Rivian ties its next Uber investment to an autonomy milestone

Chief executive RJ Scaringe told Reuters the autonomy milestone is due by year-end. Uber has committed up to $1.25 billion through 2031, with later funding tied to milestones, and the companies are targeting a 2028 launch for driverless R2 vehicles on Uber's network.

Rivian delivered 19,248 vehicles in the third quarter as the R2 outsold its R1 models and delivery van in its first full production quarter. Lower-priced R2 versions starting at $45,000 are planned for next year, while the company still records a loss on each vehicle.