Rivian CEO RJ Scaringe on Auto Tariffs, Micromobility, and EV Market Growth

Rivian's New Venture: Also

• 💡 Rivian is spinning out a new company called Also to focus on developing EVs for short trips, leveraging their core technology in a smaller, lower-cost form factor.
• 🚀 This new venture received $105 million in funding, led by Eclipse Ventures, and aims to disrupt the micromobility space.
• 🎯 While products haven't been revealed, the CEO hints at them being "absolutely incredible."

Micromobility Market Opportunity

• 🌍 Micromobility is seen as a crucial solution to transportation ecosystem stress, including infrastructure limitations, congestion, and pollution.
• 🧩 It's positioned as a complement to larger modes of transport like cars, buses, and trains, offering flexibility.
• ⚠️ Current micromobility solutions are described as technically weak, with poor user experience and reliability, presenting a significant market opportunity.

Navigating Tariff Uncertainty

• 🌐 Rivian is closely monitoring and interpreting the implications of auto tariffs, particularly in the US and potential responses from Europe.
• 📈 The company has set aside hundreds of millions of dollars for potential policy impacts and acknowledges the dynamic and challenging nature of this environment.
• 🏭 Production footprints may need to adapt based on how tariff structures evolve.

Alignment with US Policy and EV Market Growth

• 🇺🇸 Rivian is aligned with the US administration's directive to drive technology and manufacturing within the United States, with significant US-based employment and manufacturing facilities.
• 🎯 The company's focus is on growing the electric vehicle market from its current 8% of new sales to much higher penetration.
• 🚗 To achieve this, Rivian believes in the need for abundant choice in the EV market, including successful legacy manufacturers and competitors like Tesla, to encourage broader adoption.

Investor and Founder Strategies Amidst Uncertainty

• 🤝 Eclipse Ventures partner Jiten Behl emphasizes founders focusing on controlling the controllables – what they design and engineer.
• 🛠️ Building resilience and flexibility into supply chains is crucial for navigating short, medium, and long-term policy changes.
• 🌱 The key for founders is to build a resilient strategy and supply chain network that can adapt to various environments.