RIVN - Rivian Automotive Inc. (RIVN) Deutsche Bank Global Auto Industry Conference
2024-06-11 17:44:07 ET
Rivian Automotive, Inc. (RIVN)
Deutsche Bank Global Auto Industry Conference
June 11, 2024 3:25 PM ET
Company Participants
Claire McDonough - Chief Financial Officer
Conference Call Participants
Emmanuel Rosner - Deutsche Bank
Presentation
Emmanuel Rosner
All right. Good afternoon, everybody, and thank you so much for joining us for this closing discussion for the Day One of our Conference, together with Rivian, I'm extremely excited. I'm Emmanuel Rosner, I'm the lead U.S. Autos analyst here at Deutsche Bank, and I'm extremely excited to be joined by Claire, who is the CFO of Rivian.
Rivian is an electric vehicle manufacturer specializing in light and commercial vehicle production software and service solutions for consumer and fleet customers. The company is targeting to produce 57,000 units this year. It recently unveiled its R2 and R3 vehicle with the R2 stated for launch in the first-half of 2026. And just last week, Rivian disclosed their refreshed, redesigned R1 vehicles as well. So extremely excited for you to be here today to discuss all these dynamics going on. Thanks for being here.
Claire McDonough
Thanks for having me.
Question-and-Answer Session
Q - Emmanuel Rosner
So maybe to start, let's talk about these recent developments at Rivian. You unveiled and started selling the second generation of your R1 vehicles late last week, incorporating some new technology and features, but also designed for lower cost of production and better manufacturing efficiency. Can you talk to us about the main changes in the new vehicles, what customer reception has been so far, even though it's only been, I guess, a few days, and whether you were able to liquidate inventories of the old model before June 6 when you unveiled these?...
Rivian Automotive, Inc. (RIVN) Deutsche Bank Global Auto Industry Conference