Rivian doubles down on new plan to beat Tesla

Core Insights - The Biden administration's pro-EV stance contrasts sharply with the Trump administration's policies, which have negatively impacted EV sales through the elimination of the $7,500 tax credit [1] - Rivian is adapting its compensation structure to align with long-term performance goals, similar to Tesla, with a new pay plan potentially worth $4.6 billion over the next decade [3] - Rivian is intensifying its focus on autonomous driving technology to compete with Tesla, aiming to develop a comprehensive AI autonomy system [5][6] Industry Performance - EV sales surged in Q3 as consumers rushed to take advantage of the expiring tax credit, but this is expected to lead to a decline in long-term demand [2] - Major automakers reported significant EV sales: Ford with 85,789 units (+20%), General Motors with 66,501 units in Q3 and 144,668 year-to-date (+105%), and Tesla with 497,099 deliveries (+7.3%) [7] Technological Advancements - Rivian introduced its Gen 3 Autonomy Computer, claiming it has the best combination of vehicle sensors and inference capabilities in North America, processing 5 billion pixels per second [8] - The company plans to integrate LiDAR technology into its future R2 models, differentiating itself from Tesla, which has criticized LiDAR as costly and unnecessary [9]