Rivian’s CEO on Tesla’s Cybertruck, Ferrari’s Luce, and What Happens If the R2 Fails

RJ Scaringe got his PhD from MIT studying internal combustion engines. Then he founded a company to make them obsolete. In 2009, fresh out of grad school, he launched what would become Rivian. The company spent nearly a decade in stealth mode before arriving at the 2018 LA Auto Show with two electric rides nobody had seen coming.

The road, however, hasn't been easy. Rivian lost $3.6 billion in 2025, and has burned through nearly $25 billion in the past eight years. It has spent more moneyover the same period than almost every other pure EV maker. Rivian's IPO was the largest worldwide in 2021, and one of the largest in US history, within days valuing the company at over $100 billion. Its stock has dropped from a high of $130 to around $16. Since the R1 went on sale in 2021, Rivian has sold 175,000 cars. In the...

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