Rivian Automotive Inc at Robert W Baird Global Industrial Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ben Kallo - Baird - Analyst : And maybe we'll just take a step back and then we get some more details about the relationship. Maybe could you just talk -- because we have a wide range of investors in the audience, just some of the short history of Rivian as it became a private company to a public company, your flagship product and then kind of your product road map after that.

Question: Ben Kallo - Baird - Analyst : If you guys haven't seen in the outside lobby, there's an R1S and an R1T out there, too, so you can take a look at that. One of the things I think that you get lots of compliments about is the brand. Could you talk about just the Rivian brand and how important that is and some of the things, whether it's the way you go to market or other ways that you guys have built a brand really to distinguish yourselves from ICE vehicles, but also from Tesla?

Question: Ben Kallo - Baird - Analyst : I think all auto OEMs have had headwinds, interest rates, one of them. In addition to that, can you talk about navigating interest rate environment with your sales, with the price point you're at? And then also, if you could weave in just I think just after the election, the electric -- the EV tax credit is in question. And so how you guys think about that going forward?

Question: Ben Kallo - Baird - Analyst : And maybe just taking a step back, could you talk about your manufacturing capacity? And I think one interesting thing that you've done is leverage your current factory to kind of pull forward the R2. So can you walk us through that and then plans after your current factory?

Question: Ben Kallo - Baird - Analyst : One thing that I think that outsider investors, us and you guys have been laser-focused on is getting gross margin positive on the R1 or on the overall platform. Could you just talk to us about some of the levers of getting there in Q4? And then maybe weave in what the VW relationship helps on that front as well.

Question: Ben Kallo - Baird - Analyst : We get the question about liquidity quite often. It was last night. Could you tell us a little bit more? I think the overall $5 billion commitment was upsized. But could you just tell us about the relationship with VW from a liquidity perspective and then where that gets Rivian as far as how much liquidity runway it provides?

Question: Ben Kallo - Baird - Analyst : On that point though, what would cause it to go from that $1 billion to $1.3 billion just since June?

Question: Ben Kallo - Baird - Analyst : Okay. One question that comes up is, are there other opportunities outside of Rivian and Volkswagen to sell from the JV to other OEMs? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 13, 2024 / 1:55PM, RIVN.OQ - Rivian Automotive Inc at Robert W Baird Global Industrial Conference

Question: Ben Kallo - Baird - Analyst : (inaudible)

Question: Ben Kallo - Baird - Analyst : And the last part of the question was how much runway it gives you. And so what can you tell us about what that amount of capital allows Rivian to do?

Question: Ben Kallo - Baird - Analyst : And as we look ahead to next year, because the R2 is coming out in '26, how should we think about next year in terms of volumes, but then also in terms of things to watch out for as milestones in '25?

Question: Ben Kallo - Baird - Analyst : Great. Thank you very much, Claire. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 13, 2024 / 1:55PM, RIVN.OQ - Rivian Automotive Inc at Robert W Baird Global Industrial Conference