Rivian's Vision: Beyond Just Self-Driving

Rivian’s CEO, RJ Scaringe, envisions a future where their vehicles extend far beyond simple autonomous driving—a future where the cars can perform tasks akin to a personal assistant.

During a discussion featured in Fortune, Scaringe outlined his expectations for artificial intelligence within vehicles. As the founder of Rivian, he noted how the conversation surrounding autonomous driving has been ongoing for years, but expressed his desire for Rivian's cars to achieve more than conventional expectations.

Scaringe is optimistic that in the near future, Rivian's vehicles will become self-driving to the point where they not only transport you to places like the airport but also pick up your children from school and run errands like grocery shopping.

Car Services: Operating in the Background

Apart from driving, Scaringe envisions these cars managing unwelcome tasks such as scheduling maintenance appointments. He pointed out that dealing with car issues is often an unpleasant part of car ownership, and he wants this process to be streamlined and automated.

According to him, 'We envision a system that manages all these aspects seamlessly with AI handling everything behind the scenes.' This futuristic approach is not about creating traditional self-driving cars or robotaxis, as echoed by Rivian's software chief, Wassym Bensaid, previously.

Advancements and Developments

Currently, Rivian doesn't have fully autonomous vehicles, but their second-generation models feature the Rivian Autonomy Platform, offering automatic steering, braking, and acceleration on designated highways, among other functions. The company is also on the brink of producing the R2, a more budget-friendly $45,000 SUV.

Rivian, based in Irvine, California, has enjoyed a 33% increase in its stock price this year despite facing several rounds of workforce reductions, including a recent 4% decrease announced in October.

In an intriguing turn of events, Scaringe saw an increase in his compensation from $1 million to $2 million, along with stock options tied to performance, potentially valued at up to $4.6 billion, as reported in an SEC filing.