TechCrunch Mobility: Rivian’s R2 strategy

TechCrunch Mobility: Your Source for Transportation Innovation

Welcome to another edition of TechCrunch Mobility, your go-to destination for the latest developments shaping the future of transportation. Want these updates delivered straight to your inbox? .

After a brief break last week, there’s plenty to catch up on! While I won’t recap everything, you’ll find coverage of some major headlines—like Wayve’s impressive $1.2 billion funding round—in this issue.

Upcoming: SXSW and Rivian’s Big Reveal

Next week, I’ll be reporting from Austin at SXSW, the annual gathering that brings together innovators from tech, music, film, and beyond. I’m especially looking forward to Rivian’s event, where the company is set to unveil details about its R2 lineup. I’ll also be moderating a panel titled Innovation & Impact: Female Leaders Transforming Legacy Industries, featuring Rivian CFO Claire McDonough, Madison Reed CEO and founder Amy Errett, and Spotify’s chief public affairs officer Dustee Jenkins. If you’re attending, let’s connect!

Rivian’s Ambitious R2 Launch

Rivian is gearing up for one of the most rapid rollouts of a new all-electric SUV in the U.S. with its upcoming R2 model, and the pressure is on.

Senior reporter Sean O’Kane analyzed both historical sales figures and Rivian’s own targets for 2026. The company aims to deliver between 20,000 and 25,000 R2 vehicles this year, with the first units reaching customers starting in June when production kicks off.

This gives Rivian just six months to achieve its goal. Even at the lower end of the target, the R2’s sales pace would surpass every other electric vehicle priced at or below $60,000—except for the Tesla Model Y. .

Image Credits: TechCrunch/Sean O'Kane

How will Rivian achieve this ambitious target? Relying solely on pent-up demand won’t be enough. I anticipate the company will employ a range of strategies to convert interest into sales. What tactics do you think Rivian will use? Share your thoughts via email!

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A Little Bird

Image Credits: Bryce Durbin

No insider tips to share this week.

Deals Spotlight

Image Credits: Bryce Durbin

Although this news is from last week, it’s too significant to overlook: Wayve secured $1.2 billion in funding (potentially up to $1.5 billion if a $300 million milestone investment from Uber is unlocked). As I noted previously, there’s intense interest in this UK-based startup, now valued at $8.6 billion.

Wayve is charting a unique path in autonomous driving. Rather than operating vehicles itself, the company plans to license its software—offering both a fully autonomous solution and a version for advanced driver-assistance systems—to automakers and robotaxi providers. Their technology uses an end-to-end neural network that learns from data, eliminating the need for high-definition maps and working across different hardware platforms. This flexibility is likely attractive to backers like Mercedes-Benz, Nissan, and Stellantis.

Other Noteworthy Deals

• Denso, a Toyota-affiliated parts supplier, has made a bid to acquire Kyoto-based chipmaker Rohm, according to WSJ.
• Einride, the Swedish company behind electric trucks and autonomous freight pods, raised an $113 million PIPE ahead of its anticipated public listing in the first half of 2026.
• Harbinger has acquired Phantom AI, a company specializing in autonomous driving software. Financial details were not disclosed.
• Holyvolt, a Swedish battery technology firm supported by Volvo, purchased Wildcat Discovery Technologies, a battery materials company, in a deal worth $73 million.
• Momenta, a Chinese autonomous vehicle startup backed by GM and Tencent, has confidentially filed for a Hong Kong IPO, with plans to raise at least $1 billion, Bloomberg reports.
• Nominal, a software company supporting manufacturing testing for sectors like defense and automotive, raised $80 million in a Series B extension, reaching a $1 billion valuation. Founders Fund led the round.
• Toyota has increased its offer for Toyota Industries to $30 billion.
• Zeno, an African startup, raised $25 million in Series A funding to grow its app-based battery swap network and ramp up production of its Emara motorcycles. The round included $20.5 million in equity led by Congruent Ventures, with additional participation from Active Impact and Lowercarbon Capital, and $4.5 million in debt from Camber Road and Trifecta Capital.

Industry Highlights and Insights

Image Credits: Bryce Durbin

• BYD has introduced a new EV battery that can reportedly charge from 10% to 70% in just five minutes—though it requires a specific charger to achieve this speed.
• Hyundai, Toyota, and Chinese automakers such as Chery could be significantly affected by the U.S.-Israel conflict with Iran, as the Middle East is a key market for their vehicles, according to CNBC.
• Volkswagen Group has reached a new milestone, announcing it has delivered 4 million all-electric vehicles since 2013. Half of these sales are from the Volkswagen brand, with the rest coming from Škoda, SEAT/CUPRA, Volkswagen Commercial Vehicles, and Porsche.
• A video captured a Waymo robotaxi obstructing an ambulance during a mass shooting response in Austin. According to Austin-Travis-County EMS, an officer followed protocol and was able to move the vehicle quickly. Waymo has not commented on the incident, which raises ongoing concerns about autonomous vehicle readiness in emergency situations. Read more.

One Last Note

The National Highway Traffic Safety Administration is hosting a forum on autonomous vehicle safety this Tuesday. Key industry leaders are expected to participate, including Chris Urmson (Aurora co-founder and CEO), Tekedra Mawakana (Waymo co-CEO), and Aicha Evans (Zoox CEO).