Rivian CEO Pushes Self-Driving EVs, In-House AI Chips to Compete With Tesla

At Rivian’s Autonomy and AI Day, the pure-play electric vehicle maker outlined a wide range of technology and software initiatives, with a strong emphasis on vertical integration — meaning building key systems end-to-end in-house, Pras Subramanian reported for Yahoo Finance.

While Rivian has posted gross profits in recent quarters, net profitability has remained elusive. (Photo: Rivian Facebook)

Chief Executive Officer RJ Scaringe unveiled the company’s new Autonomy platform at the event, held during a challenging period for the EV sector in which Tesla remains the only major automaker to have achieved sustained profitability.

While Rivian has posted gross profits in recent quarters, net profitability has remained elusive.

Scaringe, who founded Rivian in 2011, took the company public in 2021, when its shares briefly surged to nearly $120 before retreating sharply. The stock now trades around $18.

A crucial cash infusion of nearly $6 billion from Volkswagen, via a joint venture between the two companies, has provided Rivian with much-needed financial breathing room.

Scaringe said Rivian is moving toward full self-driving capability — referred to internally as “personal Level 4” autonomy — by developing its own chips and completing its push toward full vertical integration, making the company more self-sufficient.

During a Yahoo Finance interview, Scaringe described the evolution of Rivian’s autonomy roadmap. Currently, Rivian offers Universal Hands-Free driving, similar to General Motors’ Super Cruise, which will be expanded to additional roads.

“In 2026, we’ll add point-to-point,” Scaringe said. “You can get in the car from your driveway, type the address, and it does everything — hands-free, eyes-on. But it’s still supervised.”