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Claire McDonough, CFO of Rivian @ Deutsche Bank Global Auto Industry Conference 2022 6/16/2022

Sharpobjects4321

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https://kvgo.com/db-global-auto-industry/rivian-automotive-inc-june-2022

Overall- alot of the same information from the last earnings call call on May 11. I think she adds some color that RJ holds back sometimes. So things that I heard that were new or that I may have missed on the May 11th call:
  • Of the 10K order post March 3, 2/3rds of them were "top spec"/ "premium" orders and that there is still "momentum" after the price change (93k was the average we heard that on the May 11th call)
  • R2 is going to be a mid sized SUV (if I remember correctly, Claire said this on the May 11th call, but RJ did not)
  • The emphasis on the globalization of the brand and the R2 Suv. she mentions Europe and R2 alot- (she wants this car to be global where the R1(s) might be consider oversized in Europe/Asia IMO)
  • R1 platforms will stay just a truck and large Suv for now (no new builds on top of that platform)
  • Financially- they really really don't want to go ask for money from the market again. she breaks this down really well in this conversation about how they are going to make their money last through the ramp of R2.
In response to the question, "Things you have learned from your customers of the last year?"
1. they want the very best, top of the line product. that surprised us
2. they are brand advocates.
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Tld...L?
 

moosehead

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Agree with the notion that the company needs to carefully monitor its burn rate and use of the $17B cash liquidity. One of the larger shareholders/ibanks leaned into this the last call or two and Rivian seems to be responding, which is good financial management to make sure the cash bridge gets us to EBITDA generation.
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