Rivian CEO plans to expand into a wider variety of commercial electric vehicles

Before the large EDV-700 delivery van's official unveiling with Amazon on Thursday, Scaringe told Reuters that "there will be a host of other applications in the commercial space" based on the so-called RCV platform, which is the foundation of the Amazon van Rivian is constructing in Normal, Illinois.

Beyond last-mile deliveries, Scaringe said, "we're thinking about many other parts of the commercial space, including cargo and work vehicles." We've discussed a variety of topics with other consumers. The other potential clients were left unnamed by him.

Elon Musk's vision for Tesla Inc., which likewise battled in its first 15 years before revenue and profitability began to soar, is similar to Scaringe's for Rivian. By 2030, according to Musk, Tesla should be producing 20 million EVs yearly.

For the R1T pickup and R1S utility vehicle, Rivian has failed to fulfil manufacturing targets. Recently, the company announced that it had postponed some plans, including the R1S's introduction in other countries, and could reduce headcount in order to cut costs.

At the end of the first quarter, the California firm said it had more than $16 billion in cash, but analysts have warned that the current cash burn rate may quickly deplete that amount.

The company's planned R2 electric crossover, scheduled to begin manufacturing in 2025 at a new $5 billion Georgia plant, could share some components with Rivian's smaller family of commercial cars, according to Scaringe in the interview.

The EDV-700 that is being supplied to Amazon won't be used for that series, which will be developed on a new platform with "a smaller footprint, a smaller form factor," he said.

By 2030, according to Scaringe, Rivian will continue to produce 1 million EVs annually, "and we want to be producing a lot more than that as we move into the 2030s."

"That will necessitate a variety of vehicles with various platforms and sizes. And ultimately, numerous plants in addition to those we already have in Normal and those Atlanta has declared. Additional facilities will be available, enabling us to expand into these various areas."

With a 20% stake, Amazon is Rivian's largest stakeholder. Through 2025, it has purchased 100,000 delivery vans.

Rivian won't be Amazon's lone source for vehicles, according to a senior executive, who cited existing agreements with Stellantis and Mercedes-Benz.

According to Udit Madan, vice president of transportation at Amazon, "We will undoubtedly have more than one partner given our scale and the vehicle demands we're going to have over the next 10 years."

From delivery trucks to e-bikes and e-rickshaws, the company is testing 15 different types of electric commercial vehicles from various manufacturers, according to Madan.