The CEO of American electric vehicle manufacturer Rivian, RJ Scaringe, stated on Thursday that the company is "very confident" of achieving a milestone in autonomous driving this year, which will unlock a $250 million installment from an investment by Uber; he also mentioned that there is strong market demand for the company's new compact SUV " R2 ".

For Rivian, the funds from Uber and the strong demand for the R2 model are of vital importance. The company is currently focused on reducing substantial losses and controlling cash expenditures, while also investing in research and development for autonomous driving technology; moreover, the joint venture established with Volkswagen has become an important source of revenue for the company as well.

Uber plans to invest up to $1.25 billion in Rivian by 2031; this investment includes an initial capital of $300 million, and subsequent funding will depend on the achievement of milestones in autonomous driving technology. Scaringe did not detail the specific criteria for each stage of investment, but he stated that the current progress is "completely in line" with the company's internal plans.

He pointed out that the goal of the cooperation between the two parties is to put the driverless R2 models of Rivian into operation on the Uber platform by 2028; this plan will be launched initially in a few cities and will be gradually expanded to about 25 cities within approximately 18 months.

R2 surpassed R1 SUV, pickup trucks, and vans in sales volume during the first quarter, helping Rivian set a record with 19,248 deliveries.

Scaringe indicates: "We are still in the early stages of capacity expansion. This is our first quarter of actual production of R2, but we have already initiated and are accelerating the production of the second shift. Therefore, we regard the fourth quarter as another quarter in which we will see a further increase in R2."

As a competitor to Tesla's Model Y, the entry-level version of the Rivian R2 model (with a starting price reduced to $45,000) is expected to be launched next year.

In the third quarter, the sales cost per vehicle decreased by more than $12,000 compared to the previous quarter, although Rivian is still in a loss-making state for each vehicle sold.

In addition, regarding reports of difficulties encountered in integrating the Rivian software into mass-produced vehicles, Scaringe has refuted these claims, stating that such rumors are merely "noise," and emphasized that the cooperation between the two parties is "very positive."