NASDAQ:RIVN

Volkswagen Group and Rivian announced that their joint venture, RV Tech, has successfully completed winter testing of its software-defined vehicle (SDV) architecture.

The tests, conducted in the United States and Sweden, validated the performance of integrated hardware and software systems under extreme cold-weather conditions, including functions such as all-wheel drive, traction control, and over-the-air updates.

The successful testing marks a key milestone in developing next-generation vehicles, with the SDV platform expected to be deployed in electric models across Western markets. The architecture will support advanced features such as automated driving and continuously updated infotainment systems.

Volkswagen also plans to strengthen its internal software expertise through training programs linked to the joint venture, aiming to accelerate integration of SDV technologies across its brands.
Uber and Rivian announced a strategic partnership to deploy up to 50,000 fully autonomous robotaxis over the coming years.

Under the agreement, Uber will invest up to $1.25 billion in Rivian through 2031, with an initial $300 million commitment. The first phase includes the deployment of 10,000 autonomous Rivian R2 vehicles, with initial commercial launches planned in San Francisco and Miami in 2028, expanding to 25 cities across the U.S., Canada, and Europe by 2031.

The robotaxis will operate exclusively on the Uber platform, leveraging Rivian’s vertically integrated approach to vehicle design, software, and AI-powered autonomy systems. The partnership aims to accelerate the development of Level 4 autonomous driving technology and scale a fully driverless ride-hailing network globally.
Rivian Automotive reported its latest production and delivery update, showing results in line with its own expectations.

During the most recent quarter, Rivian produced 10,974 vehicles at its Normal, Illinois manufacturing facility and delivered 9,745 vehicles. On a full-year basis, total production reached 42,284 vehicles, while deliveries totaled 42,247 vehicles, reflecting a close alignment between output and customer deliveries.

The company confirmed that both quarterly and annual figures met internal targets, signaling operational consistency as Rivian continues to scale manufacturing and deliveries. Rivian also announced that it will release its fourth-quarter and full-year financial results in a dedicated earnings update, accompanied by a management webcast to discuss performance and outlook.
Rivian Automotive reported third-quarter 2025 production and delivery results, announcing it built 10,720 vehicles at its Normal, Illinois facility and delivered 13,201 vehicles during the period. Deliveries came in line with company expectations, prompting Rivian to narrow its full-year 2025 guidance to between 41,500 and 43,500 vehicles.

The company also confirmed it will release Q3 2025 financial results on November 4, after market close, followed by an investor webcast at 5:00 p.m. ET.

Rivian said the latest figures reflect steady progress as it scales production and delivery operations in the electric vehicle market.

Rivian is suing Ohio for a direct sales ban, and it lists Tesla as getting favoritism

Rivian is suing the State of Ohio's Bureau of Motor Vehicles because it will not allow the automaker to sell vehicles directly to customers.

(teslarati.com)
Rivian Reports Q2 2025 Deliveries, Confirms Volkswagen’s $1 Billion Investment, Sets Earnings Date

Rivian produced 5,979 vehicles and delivered 10,661 in Q2 2025, aligning with its full-year delivery target of 40,000 to 46,000 units. Production was intentionally limited to prepare for upcoming 2026 models. On June 30, Rivian secured a $1 billion equity investment from Volkswagen Group at $19.42 per share, a 33% premium to its 30-day average, as part of their $5.8 billion joint venture. Rivian will release Q2 financial results on August 5, 2025, after market close, followed by a 5:00 p.m. ET webcast.
Rivian Replaces 2026 Debt with $1.25 Billion in 10% Senior Secured Green Notes Due 2031

Rivian Automotive, Inc. announced it has completed a major refinancing transaction through the issuance of $1.25 billion in 10.000% Senior Secured Green Notes due 2031. The new notes, issued by wholly owned subsidiaries of Rivian, replace and fully redeem the company's previously outstanding $1.25 billion floating rate senior secured notes due 2026.

The 2031 Green Notes will bear interest semi-annually and mature on January 15, 2031. Redemption terms include a call option at par with an early redemption premium if exercised before January 15, 2030. Rivian may also redeem up to 40% of the notes at 110% of par using proceeds from qualifying equity offerings through January 2028. A change of control provision entitles noteholders to repayment at 101% of face value.

The notes are secured on a first-lien basis by substantially all assets of Rivian’s issuing subsidiaries, excluding certain collateral prioritized under Rivian’s asset-based lending (ABL) facility. Once funded, the company’s pending DOE loan facility will also be part of the security structure.

Net proceeds from the transaction, along with cash on hand, were used to redeem the 2026 Notes and cover associated fees and expenses. The indenture governing the new debt includes customary covenants and event-of-default clauses.

The successful refinancing further solidifies Rivian’s capital structure and extends its debt maturity profile while advancing its ESG-aligned financing strategy.
Rivian Automotive announced a proposed private offering of $1.25 billion in senior secured green notes due 2031. The proceeds, along with existing cash, will be used to fully redeem its $1.25 billion floating rate senior secured notes due 2026 and to cover associated fees and expenses.

The new notes will be guaranteed by Rivian subsidiaries that support its asset-based revolving credit facility (ABL Facility). These notes will be secured by substantially all assets of the co-issuers and guarantors—excluding ABL Priority Collateral such as inventory and receivables, which secure the ABL Facility on a first-priority basis.

This offering is being made only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. The notes are not registered under the Securities Act and cannot be sold in the U.S. without proper exemption.

Rivian emphasized this is not a public offer and included typical forward-looking statement disclaimers.
Rivian Automotive, Inc. has announced the appointment of Dr. Aidan Gomez to its Board of Directors as a Class II director, with a term lasting until the 2026 annual stockholders’ meeting. The Board also expanded in size to accommodate this new position.

Dr. Gomez is the CEO, Co-Founder, and board member of Cohere Inc., a company specializing in secure enterprise artificial intelligence solutions. He previously worked as a researcher on Google’s deep learning Google Brain project. He holds a Bachelor of Science from the University of Toronto and a Ph.D. in Computer Science from Oxford University.

Dr. Gomez will be compensated under Rivian’s Non-Employee Director Compensation Program and has signed the company’s standard indemnification agreement for directors and officers.
Rivian Extends Credit Agreement and Secures Financing Support from U.S. Department of Energy

On April 8, 2025, Rivian Holdings, LLC, a subsidiary of Rivian Automotive, Inc., signed an amendment to its Amended and Restated Credit Agreement. The changes include an extension of the maturity date to April 8, 2030, with the possibility of an earlier due date if certain debt thresholds are met. Additionally, the amendment allows for the funding of commitments under a previously announced multi-draw term loan facility backed by the U.S. Department of Energy. This financing will support the development of Rivian’s Stanton Springs North Facility. Other covenant adjustments were also made. JPMorgan Chase Bank, N.A. continues to serve as administrative agent for the credit agreement.
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