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Rivian reports Q3 Earnings: $82M negative gross profit, Production updates, new plant location
Rivian Automotive (NASDAQ: RIVN) has reported its earnings for the third quarter of 2021. The electric automaker reported a reasonable quarter, completing its first production units and completing deliveries shortly thereafter. Additionally, Rivian reported a profit of $1 million through the first customer deliveries of the R1T and also detailed several updates to the company’s outlook moving forward, including plans to build its next factory near Atlanta, Georgia. However, the company reported a negative gross profit of $82 million.
“The fall of 2021 has been filled with important milestones,” the company wrote in its Q3 Shareholder Deck. “We delivered our first consumer vehicles, the R1T pickup truck and R1S sport utility vehicle (“SUV”), in September and December, respectively, and completed the certification process for the sale of our Electric Delivery Van (“EDV”). We raised $13.7 billion of gross proceeds with our initial public offering (“IPO”) in November, opened new avenues to connect and engage with our customers, and remain focused on our mission — to Keep The World Adventurous Forever.”
Rivian said it generated total revenue of $1 million for Q3 through initial deliveries of the R1T pickup. However, it also reported a negative gross profit of $82 million, which relates “primarily to significant labor and overhead costs for the large-scale Normal Factory.” Operating expenses for Q3 grew to $694 million, a 141% increase from the same period a year prior. Rivian also said it experienced a loss from operations in Q3, totaling $776 million.
The company’s net loss for Q3 was $1.233B, compared to a loss of $288 million last year in Q3. “The increased losses, as compared to the three months ended September 30, 2020, are primarily to the higher operating losses discussed above and a net loss of $458 million on issued unsecured senior convertible promissory notes.”
The past few months have been full of milestones for Rivian’s business model. “In September, we delivered our first R1T. This was an emotional moment for our team who have poured its energy and soul into bringing this vehicle to life. As of December 15, 2021, we have produced 652 R1 vehicles and delivered 386 of those, including the production and sale of our first two R1S vehicles earlier this week,” the company said. It has also accumulated 71,000 reservations for its vehicles.
Finally, Rivian will build its second U.S. production plant in Georgia after many months of speculation. “Building our recently announced second domestic manufacturing facility near Atlanta, Georgia (500,000 targeted annual production capacity with eventual co-located cell production),” the company wrote in its Shareholder Deck. CEO RJ Scaringe said during the Earnings Call that Rivian will break ground on the Georgia plant in Summer 2022.
Disclosure: Joey Klender is not a RIVN Shareholder.
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Tesla Full Self-Driving v14.3.3 driver monitoring was reportedly scaled back in recent releases, but a new version that was released in the early hours of June 3 aimed to do a better job of keeping those in control of their cars honest, according to release notes.
The release notes for FSD v14.3.3, via Software Version 2026.14.6.7 added:
“Improved driver monitoring system sensitivity with better eye gaze tracking, eye wear handling, and higher accuracy in variable lighting conditions.”
However, Tesla said this was already enabled in the first rollout of FSD v14.3.3 in late May. We tested it anyway, especially as the Standard Speed Profile seemed less-than-worried about what you were doing during operation.
I decided to try out the Hurry and Mad Max Speed Profiles for this test, and it gave me results that I would have expected. Tesla has evidently ramped up driver monitoring based on the Speed Profile you are using to travel.
The more aggressive the Speed Profile, the more on the hook you will be for taking your attention away from the road. Our testing showed that Mad Max was less likely to allow you to do normal things like change music or adjust navigation without getting an on-screen warning or nag from the driver monitoring system.
Hurry Mode Results
On Hurry, the driver monitoring system on FSD v14.3.3, via Software Version 2026.14.6.7, was more restrictive than Standard but less restrictive than Mad Max. I found that I could scroll through music options for a considerable amount of time, more than 30 seconds:
Roughly :31 between first touching the center screen and getting the first nag
— TESLARATI (@Teslarati) June 3, 2026
Standard gave me about 80 seconds of phone scrolling with absolutely no nags or warnings in a previous test. It is worth noting that this was a previous branch of v14.3.3, but Standard is such a goodie-two-shoes on the road that it is my impression it would not change much.
Here’s an 80-second phone nag test on Tesla FSD v14.3.3.
No alerts, no nagging, no annoyance. https://t.co/1dxvTOw5Cn pic.twitter.com/vYViFpjfoK
— TESLARATI (@Teslarati) May 29, 2026
Mad Max Results
I spent the majority of the drive on Mad Max to see how it truly reacted to the driver having their attention elsewhere. While I did do a short phone test, I am aiming to steer away from those and use the center screen. I think it is a valid criticism that the phone test is dangerous and, not to mention, illegal in Pennsylvania. Changing the navigation and music is a more reasonable, more responsible, and safer test.
With Mad Max being the fastest and most aggressive Speed Profile, I anticipated this being the quickest mode to give me an alert that I needed to look at the road. That was the case with music:
🎥 Testing Tesla FSD v14.3.3 (via 2026.14.6.7) nags on Mad Max https://t.co/qZALU2OujY pic.twitter.com/XddOJ0D47x
— TESLARATI (@Teslarati) June 3, 2026
As well as adjusting Navigation, when I received two nags:
🎥 Testing Tesla FSD v14.3.3 (via 2026.14.6.7) nag while adjusting navigation
Two nags here https://t.co/qZALU2OujY pic.twitter.com/xa3dtaDG1L
— TESLARATI (@Teslarati) June 3, 2026
These nags were more than reasonable, and I think it’s probably good that Tesla is ramping up the driver monitoring. I do believe that it should be relatively strict across all of the Speed Profiles, especially with phone use. When using the center screen, the nag intervals should be based on the speed profile you are utilizing at the time.
These driver monitoring adjustments are a great thing to have while FSD is still under its “Supervised” moniker, but I expect Tesla to continue pushing the limits on what it will allow, especially considering CEO Elon Musk has hinted that phone use is capable with the more recent versions.
You can watch the full drive on YouTube below:
Tesla has responded to the skeptics of its Robotaxi program by launching a massive expansion of the unsupervised program in its initial rollout city of Austin.
The company’s geofence, the enabled area of operation for rides, now covers the entire Austin Metropolitan area, an incredible move just days after media headlines attempted to discredit the ride-hailing service.
Those who have access to the Tesla Robotaxi app on their smartphones can now request a ride in any portion of the Austin Metro area. The company confirmed this on the social media platform X:
Unsupervised Robotaxi now in the entire Austin Metro area https://t.co/eXNBdarvVS
— Tesla Robotaxi (@robotaxi) June 3, 2026
This is Tesla’s fifth expansion of the geofence, with the others occurring in July, early August, late August, and late October 2025. It has remained at that size since October 26, but Tesla has now more than doubled that size.
It is now covering the entire area, including suburbs like Pflugerville and Manor, as well as I-35 highways, Gigafactory Texas, and the Austin-Bergstrom Airport.
The move comes just days after various media outlets highlighted the small fleet size of Tesla’s Robotaxi fleet in Austin, something that is a reasonable criticism but an understandable move on the company’s part to prioritize safety.
Tesla has expanded its Robotaxi geofence many times, but its fleet has remained at a relatively conservative size as the company continues to push safety as its most crucial metric.
The latest expansion is a key indicator of Tesla’s comfort level to expand the ride-hailing service. The move shows Tesla is scaling unsupervised autonomy, as it demonstrates that the company’s Full Self-Driving system has reached sufficient reliability for a broader real-world deployment, which is something the company has worked on extensively.
It also shows Tesla is game for a competition with its rivals in the autonomous ride-hailing sector. Tesla has often matched or exceeded competitors like Waymo in coverage area, despite its smaller fleet. This step highlights Tesla’s iterative, data-driven progress toward a high-margin, app-based Robotaxi network.
It’s not the absolute largest area expansion ever, but achieving full unsupervised operations across a major metro is a key moment in the Robotaxi story. It shifts the program from limited pilot/testing toward a more mature commercial service, while gathering the miles needed for faster growth.
Tesla has improved Dashcam playback with an awesome new addition, as the company has launched a web-based version that is potentially easier to navigate and operate.
The tool is available at dashcam.tesla.com and will be enabled as your vehicle receives the 2026.20 Software Version. Clips that are captured by your Tesla will be available on the Online Dashcam Clip Viewer once the files on your car’s storage drive are encrypted.
Not a Tesla App first noticed the new feature, and states that once your Tesla updates to 2026.20, the car will automatically protect the clips with an encryption key that is uniquely tied to your owner account.
Tesla Launches New Web-Based Dashcam Viewer https://t.co/AlJKXYxujJ pic.twitter.com/4igicYpvkX
— Not a Tesla App (@NotATeslaApp) June 2, 2026
The web-based viewer should be easier to operate for most. All you will do is head over to dashcam.tesla.com and log in using your account credentials.
Ensure your vehicle is updated to 2026.20 in order for the web-based viewer tool to fetch your vehicle’s saved dashcam clips.
Currently, only a small percentage of owners are updated to this, so it may be a couple of weeks until a majority of owners in the fleet are able to access this feature.
Watching Dashcam clips on the Tesla smartphone app is quick and convenient, as they can also be easily downloaded and stored right on your smartphone.
However, the clips are sometimes tougher to navigate, and in order to get details like self-driving activation, speed, and turn signals, owners have to screen record the Tesla app and crop out the rest of the screen.
It could also be a massive storage saver as you’ll be able to download the Dashcam clips from the online viewer and save them to your laptop, desktop, a flash drive, or even an external hard drive. This will keep all your clips in one place.
Tesla Full Self-Driving v14.3.3 driver monitoring: We tested it
Tesla responds to Robotaxi skeptics with a massive move in Austin
