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DuoRivians

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Details very light:

https://www.investors.com/news/apple-rivian-in-talks-for-partnership/


Apple (AAPL) is in talks with EV maker Rivian(RIVN) about a possible partnership, DigiTimes reported Monday night.

Taiwan-based Digitimes cited supply chain sources. But it's unclear what any such alliance would entail. Apple canceled its long-running "Project Titan" Apple Car in late February.

Translated DigiTimes Article:

https://www.digitimes.com.tw/tech/dt/n/shwnws.asp?CnlID=1&Cat=90&id=0000691611_3Y27SNDX0413BI2HC2PL0

H/t to: kenypowa on reddit

It was recently reported that Apple has put a sudden brake on its "Project Titan", commonly known as Apple Car, in order to shift related resources to generative AI. However, Apple has invested 10 years and spent an average of 1 billion US dollars per year. Will this be written off? The answer is probably no.

Recently, there have been rumors in the supply chain that Apple is discussing the possibility of cooperation with a new car-making force in the United States. Even though the demand for electric vehicles is currently sluggish and the capital market is on the sidelines, American start-ups trapped in selling one car at a loss are under great pressure to survive. However, there are still some new car manufacturers that are close to emerging from mass production hell, and their order visibility is not bad.

Currently, Rivian is the one most vocal in contacting Apple. Although Rivian is still strapped for funds and cannot escape the wave of layoffs, its cooperation in building cars for Amazon continues, and it is rumored that order visibility in the second half of 2024 is not bad.

Apple has accumulated 10 years of high-end self-driving research and development energy, but it has never been able to put it on the road. If we take the opportunity of cooperating with Rivian to instill the software into fleets that are already on the road, we can achieve benefits in the shortest time. Starting from basic L2+, we can effectively test it, and quickly follow the opening of various markets to L3 or higher-level self-driving. , fast and seamless connection. The key to entering the smart driving track is the effective acquisition and utilization of data.

However, at present, it is only known that Apple is negotiating, and the outside world cannot know its purpose and method of cooperation.

If Apple and Rivian join hands, there will be another indirect contact, namely Amazon. There may be room for imaginable cooperation between them in the future of generative AI.

Apple is currently the only player in the mobile phone industry that has not announced its generative AI layout, and is resuming negotiations with Open AI; while Amazon has already launched its layout in high-end AI computing and chip self-research, and its heavily invested AI start-up Anthropic is in Apple. The App Store launched the chatbot application "Claude" and so on.

In the automotive field, generative AI is currently mainly developed in three areas: first, smart voice assistants for smart cockpits; second, using generative AI to simulate various assisted driving situations; third, car manufacturing and export systems.

As far as smart cockpit voice assistants are concerned, representative companies include cooperation between Mercedes-Benz and Microsoft, Volkswagen and Cerence, etc.

In fact, Amazon has also made efforts in the smart cockpit operating system, which has been embedded in the car body and specifically cooperates with certain car manufacturers. Apple has been using Carplay to connect car cabins and has widely connected with various car manufacturers. In the future, AI mobile phone functions may focus more on this aspect.

It is worth noting that Rivia and Tesla initially chose not to introduce CarPlay, and in recent years General Motors (GM) followed up and refused to connect, which has caused dissatisfaction among some consumers, which shows that Apple has a strength that is difficult to replace.

In addition, generative AI has also begun to involve assisted driving and high-end self-driving, such as the cooperation between Bosch and Microsoft. Industry players pointed out that currently this field is still dominated by cloud exercises. Generative AI can significantly reduce testing work through simulation, data analysis, etc. to speed up development and reduce costs; while Apple Car is still This acceleration tool is not used.

As for the car sales and service system, it is less directly related to Apple, which is rumored not to make cars. However, consumers may be more connected through its product sales system, etc., and the potential for cultivation cannot be ignored.

Industry insiders pointed out that the main reason for the mobile phone group to enter electric vehicles is to expand the applicable data platform, from mobile phones, homes, cars to various network connections. For Apple, expanding the connectable areas as much as possible is the best starting point for investing in generative AI.
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jjswan33

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OMG Apple is going to buy Rivian.. you know because they canceled their car project and because RJ did the 'one more thing' bit... </s>
 

Eeyore

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I'd trade my Rivian stock straight across for Apple stock.
 

edman007

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I bet it's really about Apple music and TV..

I just got a Rivian survey today for my 6 months of ownership. Had some interesting questions...asked about the charge port location, but also asked about subscriptions. They asked about how many subscriptions I have, what I pay for, and importantly, they asked if I feel like I have too many subscriptions.

I think they got into talks with SiriusXM, they frequently bundle with the OEM subscriptions. Maybe Rivian wants to bundle with the other subscription services (such as your Rivian subscription includes Apple music and Apple TV+)
 

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Mark_AZR1T

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It'll be a lightly worded strategic partnership related to shared interests....aka a 3-6 month kick-the-tires opportunity for both sides....
 

LetsgoRIVN

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Kudos to RJ honestly, surprise after surprise of these talks are for real!
 

W1SE

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Okay but really? Rivian is so heavy Amazon is this really possible? I mean I am wrong quite often but this one seems like one or the other.
 

jjswan33

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Apple could buy Rivian and Tim does not need board approval. Current market cap of Rivian is $10b, Apples Q1 net profit was $20b...
He would need RJs approval though.. so if RJ thinks his company is worth more than the market cap then no.
 

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jjswan33

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And what do you think RJ answer would be ?
It would depend on the offer. I can almost guarantee he would say no if the offer was $10/share as proposed above.

Think about it, wouldn't make a lot of sense.

Apple gets: A factory, brand, charging network, service network and $9.4bn in liquid assets
Rivian shareholders get: $10.3bn
 

Eric9610

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RJ has 2 real options right now... Sell to apple everyone wins no stock dilution. Or raise more debt and lower stock prices. Raising more debt is possible but the terms are not goanna be good. Also looking ahead lots of economic uncertainty.

Idela situation is that a bidding war breaks out between Amazon and Apple. Option 3 could be raising more debt by selling amazon more shares.

That cash will be gone in 2 years, Apple prints 2x that a quarter. I see Rivian a fare deal at $18 - $20 a share. That would still not require Tim to get board approval.
 

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Apple Music? Siri? AppleTV for use while in Park?
 

TexasBob

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Apple could buy Rivian and Tim does not need board approval. Current market cap of Rivian is $10b, Apples Q1 net profit was $20b...
LOL I do not think Tim Cook's delegation of authority encompasses $10 Billion acquisitions. Needs board approval.
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