Uber & Rivian Announce Autonomous R2 Robotaxi Partnership (w/ 1.25 Billion Investment)

[renderpaz]

From Gemini, so please excuse any hallucinations:

I ran the search, and the SEC Form 8-K actually just dropped. The details completely strip away the marketing polish from the press release and give us the exact financial mechanics.

Here is what the filing reveals about the deal structure and the dilution:

The Financing Structure
The investment is being routed through an entity called SMB Holding Corporation, and it confirms your suspicion: it is absolutely a dilutive equity event.

• The Initial $300M: SMB is purchasing $300 million upfront in either Rivian Class A common stock or pre-funded warrants. The purchase price isn't a fixed premium; it is being calculated based on a 30-day Volume-Weighted Average Price (VWAP).
• The Remaining $950M: This capital is structured in tranches tied to specific autonomy milestones through 2031, likely executed under similar equity-issuance terms.
• The Profitability Pivot: Interestingly, the 8-K includes a major forward-looking revision. Rivian officially dropped its previous guidance of becoming adjusted EBITDA positive in 2027. They explicitly linked this delay to the massive increase in R&D spending required to meet these new Uber autonomy targets.

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[Mark_AZR1T]

Following the TSLA strategy to the proverbial T.......keeps us solvent, which is a positive.

 

[NY_Rob]

Wow, Rivian is certainly going full Tesla! I hope they don't start wasting $$ on humanoid robots next...

 

[Ralph]

On a side note: Whenever a "cool" car becomes a Taxi, Cop Car, etc... it really loses its cool factor. Its a good business move, but how does it align with the "adventure" narrative ?

Which vehicles were cool before they became taxis and cop cars?

 

[Ralph]

Wow, Rivian is certainly going full Tesla! I hope they don't start wasting $$ on humanoid robots next...

Who does Tesla have a partnership with? Rivian's approach to self-driving is significantly different in many respects.

 

[captainjp]

Wow, Rivian is certainly going full Tesla! I hope they don't start wasting $$ on humanoid robots next...

Not far off. There’s a similar, yet more-practical venture. Mind robotics is a Rivian spin-off, meant for manufacturing applications. Not so much humanoid; more so assembly-type.

 

[NY_Rob]

Who does Tesla have a partnership with? Rivian's approach to self-driving is significantly different in many respects.

Not regarding the business partnership (because king Elon would never do that!), I was referring to the robo-taxi endeavor.

 

[narmstrong79]

Which vehicles were cool before they became taxis and cop cars?

off-hand ...
Ford Crown Victoria (cop and Taxi)
Ford Taurus (Cop)
Chevrolet Caprice (mostly Taxi)
Dodge Charger (mostly Cop)
Tesla (model 3/Y) (uber drivers)

 

[Ralph]

off-hand ...
Ford Crown Victoria (cop and Taxi)
Ford Taurus (Cop)
Chevrolet Caprice (mostly Taxi)
Dodge Charger (mostly Cop)
Tesla (model 3/Y) (uber drivers)

It can easily be argued that none of these were cool with the possible exception of the Tesla. Sales success does not equate to cool.

Crown Vic cool? Nope.
Taurus? In whose world? Caprice?
Cool only happened after the quit making the ones that are cool (to some people).
Charger? Kids around the college here seem to think they are pretty cool.

 

[mkg3]

Recall watching an interview with Dara, and he said, they are establishing relationships with multiple automakers so that people have choices using Uber. Rivian is one of many and takes out potential competitors at the same time for the robotaxi service.

I'm highly confident that, speculation, there is non-compete clause embedded in the Rivian investment with Uber, at least in US.

 

[Luxus]

I would argue the Charger would fit the cool category. Not late 60s/early 70s Charger cool, but cool enough. Tesla Model Y cool? If you say so.

 

[narmstrong79]

It can easily be argued that none of these were cool with the possible exception of the Tesla. Sales success does not equate to cool.

Crown Vic cool? Nope.
Taurus? In whose world? Caprice?
Cool only happened after the quit making the ones that are cool (to some people).
Charger? Kids around the college here seem to think they are pretty cool.

In retrospect its cool to poo-poo these cars, But
The Crown Vic was viewed as the "stealth Wealth" targeted toward the everyday man, has a V8 that would float on the highway, but still be used blow past someone at a light.

The Taurus was radical in its design for the time, then they delivered the SHO that could go toe-to-toe with the BMW and Porsches of that era.

Caprice was basically an impala SS with the corvette engine.

Dodge Charge was cool when it came out, brought back the 70 muscle car nostalgia, but now its mostly associated with douche bags and cops

Tesla was the iPhone on wheels and quickly became the California Camry

 

[UnsungZero_OldTimeAdMan]

Long ways to go before the cars are deployed. But once they do, they'll be like rolling billboards for the brand. Downside, it might cheapen brand image.

Wow, Rivian is certainly going full Tesla! I hope they don't start wasting $$ on humanoid robots next...

Worry not. RJ spoke on folly of humanoid robots in interview recently. Mind Robotics is focused on making manufacturing robots better—with more physical dexterity and intelligence in decision making (and situational awareness on the assembly line)—not more human-like.

 

[narmstrong79]

I would argue the Charger would fit the cool category. Not late 60s/early 70s Charger cool, but cool enough. Tesla Model Y cool? If you say so.

Tesla was cool to a different generation/ audience than what previously defined cool when it came to cars . Nerds had cool tech , futuristic deign (which i have never liked) , and crazy 0-60 times .

 

[R1SFamilyGuy]

I’ll just share my notifications from this morning…

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