Can anyone explain why RIVN is down 8% after this announcement? Were investors expecting hands free handjobs or something?
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Those are my bearish questions. On the bullish side, the VW deal shows that they're willing and able to license part of their platform, so possibly have a big chance to recoup costs and maybe turn a profit just on that side, which justifies a big software + autonomy investment.
(GM has made a lot of cars with their own transmissions. And at various times, they've supplied -lots- of them to other automakers all over the world. They've made a lot of money doing this.
Someone's gotta build the machine vision/control systems for all of these self-driving cars; that someone may well be Rivian.
It's not as sexy as something like a new convertible might be, or a $40k self-driving electric car, and a consumer might not even know that the new car in their driveway has expensive Rivian parts buried inside, but that future can be very profitable for them.)