China · White House · Wired
Rivian’s CEO on Tesla’s Cybertruck, Ferrari’s Luce, and What Happens If the R2 Falters
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
RJ Scaringe got his PhD from MIT studying internal combustion engines.
Key facts
- Rivian lost $3.6 billion in 2025, and has burned through nearly $25 billion in the past eight years
- Rivian's IPO was the largest worldwide in 2021, and one of the largest in US history, within days valuing the company at over $100 billion
- Its stock has dropped from a high of $130 to around $16
- But in 2024, Volkswagen Group committed up to $5.8 billion to co-develop software and electrical architecture technology with Rivian in a huge joint venture
Summary
The road, however, hasn't been easy. Rivian lost $3.6 billion in 2025, and has burned through nearly $25 billion in the past eight years. But in 2024, Volkswagen Group committed up to $5.8 billion to co-develop software and electrical architecture technology with Rivian in a huge joint venture. Regardless, the company needs its new R2 SUV to work. The reporter sat down with Scaringe for a candid, wide-ranging discussion on what happens if the R2 fails, why the R1 launched with dead-end tech, how to compete with China, the Cybertruck’s failure, and the virtue of buttons inside cars.