Financial Data and Key Metrics Changes - Rivian achieved significant milestones in technology development and customer satisfaction, ranking as the highest-rated brand in customer satisfaction for two consecutive years [3] - The R1S model is the best-selling premium SUV in California and the top-selling electric SUV in the United States, with a starting price exceeding $70,000 [3] - The company plans to launch the R2 model in the first half of 2026, targeting a starting price of $45,000 to reach a larger market [4] Business Line Data and Key Metrics Changes - The R1 product line has undergone substantial upgrades, with cost reductions achieved through the Gen 2 launch [24] - The company is focused on enhancing the R1 line with technology improvements and cost savings from the R2 development [24] Market Data and Key Metrics Changes - Rivian's service network includes 74 physical service centers and over 500 mobile service vehicles, with a goal to increase mobile service actions to over 70% [30] - The Rivian Adventure Network has over 700 chargers, boasting an uptime exceeding 98%, and is now open to non-Rivian vehicles, generating additional revenue [32][33] Company Strategy and Development Direction - Rivian is committed to technology development in electrification and AI, aligning with U.S. administration policies [22] - The company is expanding its workforce and production capabilities, particularly with the upcoming R2 launch in Illinois and Georgia [22] - Rivian is investing heavily in AI and autonomy, with plans to host an AI and autonomy day to share its technology roadmap [6][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the R2 launch timeline and the readiness of the supply chain [21] - The company is optimistic about its long-term strategy and the growth of its workforce in response to policy changes [22] - Rivian aims to leverage its direct-to-consumer model and vertical integration to deploy AI effectively across its operations [29] Other Important Information - The company has ratified the appointment of KPMG as its independent registered public accounting firm for 2025 [17] - Rivian's board of directors and various proposals were approved during the annual meeting [18] Q&A Session Summary Question: Confidence in launching R2 in the first half of 2026 - Management is highly confident in the R2 launch timeline, citing supply chain readiness and product maturity [21] Question: Impact of recent policy changes on Rivian - Management noted that the company's technology development aligns with U.S. policies on electrification and AI, and they are confident in their long-term strategy [22] Question: Long-term plan for R1 products as R2 and R3 ramp up - The R1 line will see technology updates and cost savings from the R2 development, with further improvements planned for the future [24] Question: Preview of the upcoming AI Day - The AI Day will showcase Rivian's technology platform, data architecture, and future features, including a demo of vehicle autonomy [28] Question: Expansion of service centers and Rivian Adventure Network - Rivian is focused on expanding its service capabilities and charging network, with plans to increase the number of mobile service actions and charger density [30][32]