Rivian CEO RJ Scaringe on new AI tech, autonomous driving and more

Core Insights - Rivian is unveiling its autonomous driving system and launching its own chip during its AI day in Palo Alto, indicating a strategic shift towards vertical integration in technology development [1][4][10] Company Strategy - The decision to design its own chip for autonomous vehicles (AV) and artificial intelligence (AI) is driven by the need for efficiency and performance, allowing Rivian to control hardware at the compute level [3][4] - Rivian emphasizes long-term investment in self-driving technology, with a significant portion of its R&D budget allocated to autonomy, showcasing confidence in its technological advancements [6][7] Product Development - The new R2 vehicle, starting at $45,000, represents Rivian's focus on lower-priced vehicles while maintaining a commitment to leading technology [8][9] - Rivian's current technology demonstrates point-to-point full self-driving capabilities, with plans for further advancements over time [7][8] Market Positioning - Rivian acknowledges skepticism regarding its ability to keep pace with the autonomous vehicle hype cycle, but maintains a long-term perspective on market movements [5][6] - The company is currently focused on personal level four autonomy, which could eventually extend to ride-sharing opportunities, although initial efforts will prioritize personal vehicle technology [11][12]