R2 production officially started in April, Q1 came in ahead of estimates with a third straight quarter of positive gross profit, deliveries grew 20 percent year over year, and Volkswagen raised its stake to 15.9 percent. RIVN is down 31 percent on the year anyway. The gap between what Rivian is doing and what the market is pricing in has rarely been this wide.
Rivian's AI-defined vehicle framing sounded like marketing theater when Chief Software Officer Wassym Bensaid first dropped it on stage at Autonomy and AI Day back in December. Five months later, with Rivian Assistant actually shipping and a wider AI strategy coming into focus across voice, autonomy, and the Volkswagen joint venture, it's a lot harder to write off as buzzword theater.
Customer R2 deliveries are about to start, and the next 30 days are going to tell us more about where Rivian is actually headed than anything that's been pitched on a stage in the past year. The marketing is done, production is rolling, and the story is about to shift from pricing and trims to what real ownership actually looks like. I've got an R2 coming too, so I'll be sharing the full experience here as it unfolds.
Rivian's RAP1 chip and Gen 3 Autonomy Computer aren't just spec bumps. They're the moment Rivian stops renting compute from someone else and starts owning the whole stack, the same way Apple did when it walked away from Intel and built its own silicon.
RJ Scaringe’s headline $403 million pay package isn’t actually money in his pocket. Most of it is grant-date fair value on stock options that only pay out if Rivian’s stock more than doubles, the company hits real profitability targets, and he stays CEO long enough to see it through. The cash he actually took home in 2025 looks more like $25 million, and most of that came from selling existing shares back to the Also spinout.
If you're configuring a Launch Edition Performance R2, the 20" All-Terrain wheel upgrade is the smarter long term pick. The 21" All-Season runs a tire size nobody else makes yet, and R1 owners already know how that story goes. The range tradeoff is smaller than you might think.
The gap between what RJ Scaringe has actually shipped in the last eighteen months and how anyone is talking about him feels wider than it should be. Here's the case for why he might be the most underrated CEO in automotive right now.
Rivian just had its best commercial van quarter ever and it barely made a ripple. More than double the sales year over year, and the conversation is still almost entirely R2. The van is holding the floor while the new stuff finds its footing, and it's not getting nearly enough credit for it.
Rivian's R1 color palette has been quietly shrinking for two years, and the options disappearing aren't the boring ones. Compass Yellow, Limestone, El Cap Granite, and a too-brief run of Borealis are all gone, replaced by another shade of grey. Here's a look at what we've lost and where things stand today.
Autonomy+ is easy to dismiss right now. The feature set is light, the big capabilities aren't here yet, and $50 a month is a tough sell for hands-free lane centering. But the $2,500 one-time payment is a different conversation. You're not paying for what Autonomy+ is today. You're locking in at today's price for everything it becomes, point-to-point driving, eyes-off capability, and eventually personal Level 4 autonomy, all tied to your VIN and yours for the life of the truck. Tesla just killed their one-time FSD purchase option entirely and confirmed the $99 monthly price is only going up from here. Rivian is still offering you a way out of that subscription trap. It might not be open forever.
