Rivian Automotive (RIVN) Evercore's 9th Annual ADAS, AV & AI Forum summary

Autonomy and AI development

• Point-to-point autonomy rollout targeted for end of 2026, expanding to full fleet in 2027.

• Multimodal sensor approach (cameras, radar, LIDAR) accelerates progress and safety.

• Edge case collection and model refinement use advanced AI and real-world fleet data.

• Uber Robotaxi partnership aims for L4 capability and deployment in 25 markets by 2031.

• Personal L4 autonomy targeted for late 2028, following Robotaxi launch.

Production, supply chain, and cost structure

• R2 midsize SUV ramping production in Q3 2026, with supply chain maturation as a key focus.

• Plant in Normal targets 4,000 units/week; Georgia plant to add 300,000 annual capacity.

• R2 bill of materials expected to be half of R1, with major cost reductions in suspension and design.

• Supplier relationships strengthened by increased scale and reputation.

• Battery and commodity costs fluctuate, but overcapacity in the battery sector provides some tailwinds.

Commercialization and partnerships

• Autonomy+ launched with encouraging take rates; included in R2 Launch Edition.

• Uber partnership includes $1.25B investment, milestone-based funding, and 10,000 vehicle commitment.

• Software revenue from autonomy remains small but expected to grow with fleet expansion.

• Joint venture with Volkswagen to roll out zonal electrical architecture and software in 2027.

• Open to additional OEM partnerships, leveraging autonomy and software expertise.