The Rivian CFO has made several announcements at the recent Bank of America Securities Summit, enticing investors and fans alike.
Rivian is finally catching its stride following a successful first quarter of the year, and coming off this excellent production ramp; the automaker is headed toward a whole new set of challenges, relating to everything from its second-generation R2 vehicle to its profitability to its ongoing R1 truck ramp. Luckily, the company’s CFO, Claire Rauh McDonough, released new information covering these points at last week’s Bank of America Securities Summit.
@RivianUpdates initially reported the tsunami of Rivian announcements on Twitter in a lengthy thread covering the numerous statements. Still, they can essentially be boiled down to three main points, R1 production updates, the Van production ramp, and R2 updates, along with a couple of minor updates.
Rivian’s CFO revealed a TON of important information via BofA Securities Summit: $RIVN ?#Rivian @Rivian @RJScaringe
• Rivian anticipates achieving a POSITIVE gross profit by H2 of 2024
• Rivian is aiming to build 85K R1s in 2024.
• R2 production capacity will be 200K units… pic.twitter.com/YZiyz02aUN
— Rivian Updates (@rivianupdates) April 7, 2023
R1 Production Updates:
Perhaps the most notable announcement from the BofA summit is the news regarding the company’s premier truck offering, the R1 lineup. Foremost, Rivian remains on track to achieve profitability by the second half of 2024, motivated essentially entirely by R1 and van deliveries. Further, while McDonough did not disclose the total number of backlog orders, the company anticipates completing all of its pre-March price increase orders by mid-2023. It has a backlog extending “well into 2024” with orders from after the price increase.
On top of this sales success, Rivian is learning some surprising things about its newest customers, primarily their price point. Rivian’s CFO notes that the automaker has seen the average purchase price of its trucks steadily increase, indicating that more premium buyers are coming to the automaker, who are typically more willing to purchase the optional add-ons. However, following these comments, the company executive noted that Rivian does not currently plan to increase the base price of its R1 vehicles.
Looking to the future of the R1 vehicles, the CFO notes that Rivian plans to produce 85,000 vehicles annually by 2026, a production number that the automaker has previously stayed tight-lipped about.
R2 Design and Production Updates:
As the Rivian R1 vehicles have continued to age, the anticipation for the company’s next generation “R2” trucks has built. And while Rivian CEO RJ Scaringe has noted the business plans to make the upcoming truck a more affordable model, other details have yet to be revealed.
Most surprising to investors was the CFO’s bold estimation of R2 production, which is anticipated to begin in the 2025-2026 timeframe. Rivian aims to produce 200,000 R2 trucks during 2026 and will then seek to double that number as its next production goal, though a timeframe for that upgrade was not shared.
Regarding the upcoming truck’s market position, sadly, Rivian remains secretive. However, the CFO noted that the new vehicle would aim to compete with other luxury volume sellers like the Tesla Model Y. With this information, many now anticipate the truck to start at around $40,000.
Finally, Rivian’s CFO pointed out that R2 aims to be both a volume seller and a global vehicle, meaning it will be available in numerous markets. Currently, Rivian has been supply constrained and hence, a strictly North American brand, but that may change in the near future, with Europe likely being the company’s next target.
Electric Delivery Van Announcements:
Despite Amazon’s recent announcement that it would be decreasing the number of vans it would be buying this year, Rivian remains entirely focused on the production ramp of its offering. One of Rivian’s top priorities has been the production of its Electric Delivery Van (EDV), which has been taking the streets of the United States by storm. Highlighting this focus, the company CFO noted that the van takes “enduro-motor” priority over the dual-motor R1 vehicles. Moreover, the van received two notable production upgrades in Q1 of this year, integrating the new motor and Rivian’s new LFP battery pack.
Other Announcements:
Besides these amazing announcements on its most exciting products, Rivian also revealed updates coming to its Adventure Network charging infrastructure. To aid its rapid development, Rivian will now be looking to join the “Federal Charging Fund” in the United States, making it eligible to receive incentives from the federal government to place its charging network. However, as a result, Rivian will be forced to open its network to other EVs. Nonetheless, with the feds willing to put up as much as 80% of the cash required for installation, many would consider Rivian foolhardy to decline the offer.
What do you think of the article? Do you have any comments, questions, or concerns? Shoot me an email at william@teslarati.com. You can also reach me on Twitter @WilliamWritin. If you have news tips, email us at tips@teslarati.com!
Elon Musk
Why Tesla Roadster unveiling delay might have nothing to do with it flying
Tesla announced on Monday that the Roadster event scheduled for today would be postponed due to the need for it to be held outside.
Less than 24 hours later, CEO Elon Musk broadened that by stating it was due to high winds, immediately sending everyone into a frenzy over the Roadster’s potential ability to fly.
And realistically, it could definitely have to do with it flying, hovering, or hopping; whatever Tesla has in mind for this demonstration could not be impacted by wind. However, it might have nothing to do with the vehicle flying whatsoever, and instead could be a simple precaution, as the Roadster is a very unique vehicle with some already official specs that are just mind-blowing.
Tesla will very, very likely be showcasing both the acceleration rate and potentially even a top speed demo at the event in Waco. Both of these demonstrations, performed with a vehicle that has such incredibly fast metrics, could easily be impacted by wind as well.
Tesla Roadster event requires restricted airspace, and the FAA obliges
Top Speed Demo
At high speeds, aerodynamic forces are already overwhelmingly present. A crosswind or sudden gust adds a layer of sideways force that the tires must counter with slip angle. On a short demo course, that force can shove the car off the intended line, especially in a light car with a low frontal area and little mass to resist the push.
Electric cars, due to their battery packs, have an advantage of an extremely low center of gravity, giving them extra stability. However, the speeds at which the Roadster could travel at the demo could spell some issues if crosswinds are present.
Gusts are worse than a steady wind because the load changes faster than a driver can smoothly correct. That shows up as weaving or a late correction. Headwinds and tailwinds can also spell disaster. Headwinds cut a measured top speed but raise the power needed to get there or maintain it. Meanwhile, a tailwind can inflate the top speed, and downforce issues could become more noticeable.
Wind also loads the body unevenly. A low car can feel light on the upwind side or see a sudden change in downforce if the gust hits a wing or diffuser at an angle. Tire temperature and pressure might stay near a normal level, but lateral grip can be lost as the vehicle is spent fighting the wind.
Acceleration Demo
Launch and 0-60 MPH runs are shorter, so the car spends less time exposed to forces that could cause things to go awry. However, the first second is very sensitive, as a crosswind at launch could yaw the car before speed builds and prior to aerodynamic impact being too great. The driver will be required to correct traction control or manage how much the wheels are spinning, which will likely be corrected automatically by some sort of traction control system within the Roadster (we are fairly certain Tesla will implement something brilliant with it).
These things could cause an unstable run.
A headwind would increase drag as speed rises, while a tailwind would do the opposite. Meanwhile, surface effects, like wind-driven dust, light debris, or even rain, could reduce grip at the exact moment the tires are asked for peak longitudinal force. Standing water plus a crosswind is a common reason an acceleration attempt might be scrapped.
Flying or Not
No matter what Tesla has in store for the Roadster, waiting for ideal conditions is a great idea. People who follow and support the company, along with the engineers involved in the Roadster program, have been waiting nine years since the last unveiling for this moment. Everything should be ideal.
Some speculate that it’s just not ready, and that’s ridiculous. Why would Tesla even schedule the event — albeit prematurely — after nine years if it was not ready? Why would they jump the gun now?
We were all excited for today, but it truly is the most ideal thing in the world to wait two more weeks so everything, including the weather, can be perfect. The delay is simply worth it. But Tesla, seriously, make this the last one.
Elon Musk
SpaceX nails “Lucky 13” astronaut launch, leaning into Tesla tradition and superstition
SpaceX launched Crew-13 astronauts to the ISS Thursday, setting up a record fast Dragon docking.
SpaceX launched NASA’s Crew-13 mission to the International Space Station on Thursday morning, getting four astronauts to orbit despite a forecast of thunderstorms and gusty winds that had threatened to push the flight to Friday.
Falcon 9 lifted off from Space Launch Complex 40 at Cape Canaveral Space Force Station at 11:10 a.m. ET carrying Dragon Grace, NASA confirmed. On board are NASA commander Jessica Watkins, NASA pilot Luke Delaney, Canadian Space Agency astronaut Joshua Kutryk and Roscosmos cosmonaut Sergey Teteryatnikov. The first stage booster, B1101, landed at Landing Zone 40 beside the pad on its third flight after previously supporting Crew-12 and a Starlink mission.
Liftoff of Crew-13! pic.twitter.com/vteT0DXMTh
— SpaceX (@SpaceX) October 1, 2026
It was the first spaceflight for Delaney, Kutryk and Teteryatnikov. Watkins, who flew on Crew-4 in 2022, became the first NASA astronaut to launch aboard a Crew Dragon twice.
Before launch, the crew rode to the pad in Teslas, a tradition on NASA’s SpaceX crew flights since 2020. This time the cars carried specialty plates reading “Lucky 13.” Watkins said the mission patch leans into the number on purpose, as a nod to Apollo 13 and the resilience of that crew.
Grace is now on a short trip to the station. Docking at the forward port of the Harmony module is scheduled for about 7 p.m. ET, roughly 7 hours and 50 minutes after liftoff, which Space.com notes would be the fastest Crew Dragon transit to the ISS yet. Most Dragon flights take around 15 to 24 hours to catch the station. Hatch opening is planned for 8:25 p.m. ET.
The launch came more than two weeks later than originally planned. An oxidizer leak was found in Grace’s propulsion system in August, and NASA and SpaceX added time for tests. That pushed back the return of Crew-12, which has been aboard the station since February and is now set to splash down off Southern California next week. Crew-13 is expected to stay about six months.
SpaceX rescue mission for stranded ISS astronauts nears end — Here’s when they’ll return home
SpaceX already holds NASA orders for crew rotations through Crew-17, while Boeing is preparing an uncrewed Starliner flight to the station as early as December.
Crew-13 was only the first of three SpaceX launches planned for Thursday, as Teslarati previewed on Wednesday. A Falcon 9 launched its Transporter-18 mission from California today, where Google will be launching its first orbital artificial intelligence (AI) test satellite. Meanwhile, Falcon Heavy is set to launch the classified NROL-97 mission for the National Reconnaissance Office from Launch Complex 39A at 11:53 p.m. ET. Its two side boosters will return to Landing Zones 1 and 2, which means Central Florida could hear up to three sonic booms in a single day. The busy stretch follows Starship’s Flight 14 on Monday, which reached orbit for the first time.
News
Tesla moves forward on Wireless Charging for vehicles
Tesla has moved its Wireless Charging efforts for its electric vehicles forward, as it had a new patent published today, one that it submitted back in March.
The patent describes a system for detecting foreign objects on the wireless charging pad under varying temperatures, aiming to mitigate any undesired results that could come from something being on top of the charging pad.
🚨 Tesla has a new patent application published today, which was submitted back in March, for a Wireless Charging Pad:
“The present disclosure relates to methods and systems that can reliably detect foreign objects on a wireless charging pad under varying temperatures. In some… pic.twitter.com/LIeLfZAuDJ
— TESLARATI (@Teslarati) October 1, 2026
The abstract of the patent states:
“The present disclosure relates to methods and systems that can reliably detect foreign objects on a wireless charging pad under varying temperatures. In some examples, an object detector can utilize a set of inductive coils included in resonant tanks, and excite the resonant tanks using signals in a range of frequencies including or near a nominal resonant frequency of the resonant tanks. The object detector can detect a metal object based on resistance of a coil increasing and inductance of the coil decreasing. By analyzing the shifts and/or distributions in resonant frequencies and output magnitudes (e.g., output voltage peaks), the object detector can distinguish between changes of frequencies and magnitudes caused by temperature and those caused by foreign objects to accurately detect the foreign objects.”
The object detection system will utilize a set of inductive coils included in resonant tanks, and “excite the resonant tank using signals in a range of frequencies including or near a nominal resonant frequency of the tanks.” Metal can be detected by an increase in the coil’s resistance and a decrease in the coil’s inductance.
By analyzing shifts or disruptions in resonant frequencies and output magnitudes, the system can detect foreign objects. These types of safeguards need to be implemented through the normal operation of the charging pads.
Tesla says its Cybercab wireless charging efficiency is ‘well above 90%’
Tesla plans to utilize wireless charging with Cybercab and Robotaxi-enabled units to help streamline the fully autonomous experience from A to Z. The last thing the company wants to do is have any sort of small obstruction preventing the rider from experiencing Robotaxi as intended.