RJ's Bloomberg Interview in Full (July 5th 2023) + Highlights Summary

[MountainBikeDude]

While the article has been posted here previously, the full interview was recently uploaded to Youtube.

Key Highlights

- Speaks to Rivian moving away from Amazon EDV exclusivity while touching on how crucial the deal with Amazon has been​

- Reduction of semiconductors in the Enduro drive train to allow for supply flux and further allow more allocation to Quad Motor​

- During 2022 when the production kept stopping due to supply constraints, RJ had a "supplier day" at the plant in which senior executives/CEO's from each supplier came to the plant not only to tour, but to recognize the volume Rivian would need was directly tied to how effective they were together not individually. In RJ's words "this proved to be a galvanizing moment, which helped ensure we've been able to steadily ramp throughout 2023"​

- In the early days when RJ talked about pickup truck electrification, was more often than not, laughed at. Thanks to the execution of the R1T, you're now seeing several offerings from others, each with their own take.​

R2 Specific

​

- R2 will carry the brand ethos from R1 "Commute, but also get out and explore" but at a lower price point.​

- R2 is being designed from the ground up to be cost effective both for Rivian, but also customers.​

- R2 is to be fully compliant with the US EV tax credits revised guidlines​

- R2 will not only be a North America product, but a global brand for markets like EU, China, Japan etc.​

​

Several other keynotes, but don't want to spoil it all!​

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[kurtlikevonnegut]

Interesting decision to have RJ with a British Accent interview himself.

 

[goldburger]

Mmmm love the Rivian Daddy

 

[Dark-Fx]

Interesting decision to have RJ with a British Accent interview himself.

*Thinks everyone with black glasses looks like Steve-O

 

[Guy]

Glad he clarified that R2 pricing of $40-50k is in 2023 dollars so likely $45k-65k when on sale in 2026.

 

[usofrob]

Glad he clarified that R2 pricing of $40-50k is in 2023 dollars so likely $45k-65k when on sale in 2026.

Yeah, I think that was a good comment on his part. Normally when a car company announces pricing targets, they're assuming mild inflation, but recent years have made them weary. Do we still think that the Cybertruck will start at 40K?

 

[BrayBay]

Great interview that covers a wide variety of subjects, worth the watch/listen.

... also RJ has two wrist watches. One is an Apple Watch, what's the other one?

 

[NineElectrics]

I disagree that the “successful execution” of the R1T is the reason you see so many other electric trucks coming online. In my view, it’s all driven by government incentives and the fact that battery technology and cost only now makes electrification of trucks possible. No other manufacturer wanted to eat billions in losses like Rivian has. That’s not really a motivating example that others would follow. If anything the R1S execution was shit: delayed, poor initial quality, and with higher costs that expected.

Further, these other manufacturers began their programs years ago, before a single R1T had been delivered. This is just RJ trying to sneak in some undeserved credit. If you’re going to credit phantom trucks, why not chalk it up to the Cybertruck reveal? Or the Lightning? It shipped only six months after the R1T.

 

[Supratachophobia]

While the article has been posted here previously, the full interview was recently uploaded to Youtube.

Key Highlights

- Speaks to Rivian moving away from Amazon EDV exclusivity while touching on how crucial the deal with Amazon has been​

- Reduction of semiconductors in the Enduro drive train to allow for supply flux and further allow more allocation to Quad Motor​

- During 2022 when the production kept stopping due to supply constraints, RJ had a "supplier day" at the plant in which senior executives/CEO's from each supplier came to the plant not only to tour, but to recognize the volume Rivian would need was directly tied to how effective they were together not individually. In RJ's words "this proved to be a galvanizing moment, which helped ensure we've been able to steadily ramp throughout 2023"​

- In the early days when RJ talked about pickup truck electrification, was more often than not, laughed at. Thanks to the execution of the R1T, you're now seeing several offerings from others, each with their own take.​

R2 Specific

​

- R2 will carry the brand ethos from R1 "Commute, but also get out and explore" but at a lower price point.​

- R2 is being designed from the ground up to be cost effective both for Rivian, but also customers.​

- R2 is to be fully compliant with the US EV tax credits revised guidlines​

- R2 will not only be a North America product, but a global brand for markets like EU, China, Japan etc.​

​

Several other keynotes, but don't want to spoil it all!​

I'm a little late to the game here but here are some thoughts.

1. Everyone wants to compare Rivian to Tesla and RJ to Space-Karen. And they do it whether intentionally or unintentionally. RJ knows this and he does a fantastic job of setting/keeping Rivian's identity, and his, it's own. He speaks very generally about other EV makers and refuses to make direct comparison by name, which is so refreshing and healthy long term for them. Even the NACS discussion was brilliant by admitting the connector is superior, which it is, and their original direction was based on the information at the time.


2. Great deflecting of questions. So well that you didn't even know he was giving non-answers. This is a person that can think on their feet while also choosing words carefully. That's who you want at the helm.

 

[MountainBikeDude]

I disagree that the “successful execution” of the R1T is the reason you see so many other electric trucks coming online. In my view, it’s all driven by government incentives and the fact that battery technology and cost only now makes electrification of trucks possible. No other manufacturer wanted to eat billions in losses like Rivian has. That’s not really a motivating example that others would follow. If anything the R1S execution was shit: delayed, poor initial quality, and with higher costs that expected.

Further, these other manufacturers began their programs years ago, before a single R1T had been delivered. This is just RJ trying to sneak in some undeserved credit. If you’re going to credit phantom trucks, why not chalk it up to the Cybertruck reveal? Or the Lightning? It shipped only six months after the R1T.

Easy fella, grab a coffee.


Rivian had been working the SUV and Truck prior to their reveal, just as you'll argue others had. The difference was the T was the first to be revealed in November 2018. So, one could easily argue the T was in development well before the others, especially being a ground up EV platform from a non established company.

November 2018 Rivian R1T/S unveil
January 2019 it's rumoured GM is in talks with Rivian. Deal ultimately falls though as it"s rumoured GM wanted exclusivity
July 2019 Ford show Lighning test mule tow trains
November 2019 Tesla Cybertruck unveil
October 2020 GMC Hummer reveal
May 2021 Ford Lightning unveil

October 2021 Rivian R1T Customer (employee) deliveries begin
December 2021 GMC started its first customer deliveries (857 total have been delivered as of April 2023)
May 2022 Fords first Lightning customer deliveries begin
December 2023? Tesla Cybertruck should begin customer deliveries

Every manufacturer is eating billions in losses due to electrification. Yes, mandates helped things along, but I would argue Rivian set a benchmark that others have used to build out their own products. Lighning in my mind was a .5 generation EV that was rushed out the door to get to market. This can be seen throughout the Munro tear down videos. Some things were very well executed, but the overall platform wasn't an EV ground up design. The gen 2 or I would say Gen 1 lightning will be the big feather in Fords cap if executed correctly.

 

[Dark-Fx]

Further, these other manufacturers began their programs years ago, before a single R1T had been delivered. This is just RJ trying to sneak in some undeserved credit. If you’re going to credit phantom trucks, why not chalk it up to the Cybertruck reveal? Or the Lightning? It shipped only six months after the R1T.

Subtract 18 months from October 2020? April 2019 is after the R1T reveal and before the Cybertruck Reveal.

https://www.greencarreports.com/new...hummer-ev-in-record-time-here-s-the-backstory

Ford announced in Jan 2019 that they intended on producing an electric truck. Rivian really was the first mover here and it's obvious that some people here take issue with it.

Easy fella, grab a coffee.

 

[Autolycus]

Subtract 18 months from October 2020? April 2019 is after the R1T reveal and before the Cybertruck Reveal.

https://www.greencarreports.com/new...hummer-ev-in-record-time-here-s-the-backstory

Ford announced in Jan 2019 that they intended on producing an electric truck. Rivian really was the first mover here and it's obvious that some people here take issue with it.

marshall-lawyered.gif

 

[Dark-Fx]

marshall-lawyered.gif

This is the earliest design photo I could find for the R1T, Rivian had uploaded it to their webpage in December of 2016. Looks like they had made a test cell for sizing everything out.

Going much older than that seems to imply they were still working on a car design, so probably sometime in 2016 is when the change happened.

This story here seems to corroborate. https://www.wglt.org/local-news/202...o-one-of-the-biggest-ipos-in-american-history

 

[MountainBikeDude]

This is the earliest design photo I could find for the R1T, Rivian had uploaded it to their webpage in December of 2016. Looks like they had made a test cell for sizing everything out.

Going much older than that seems to imply they were still working on a car design, so probably sometime in 2016 is when the change happened.

This story here seems to corroborate. https://www.wglt.org/local-news/202...o-one-of-the-biggest-ipos-in-american-history

Cool find! Given the profile of the rear door, it looks like the gear tunnel was incorporated early in the design?

 

[swhme]

Great interview that covers a wide variety of subjects, worth the watch/listen.

... also RJ has two wrist watches. One is an Apple Watch, what's the other one?

Looks like a Whoop band

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