Rivian sacrifices 2027 profit goal to push deeper into autonomy | TechCrunch

Last day to exhibit your breakthrough to 10,000+ tech leaders at Disrupt is on Oct 2. Book Exhibit Table Now. Disrupt doors open Oct. 13. Get your pass and bring someone with you at 50% off. REGISTER NOW. Rivian no longer expects to meet a long-expected profitability goal in 2027 because of how much money it is spending on its autonomy efforts, the company disclosed on Thursday. The company said it does not expect to be EBITDA positive by next year as it sees R&D costs rising in line with its quickening efforts to build out its self-driving technology. The admission was encased deep in a filing that otherwise detailed Rivian’s new partnership with Uber to build robotaxi versions of its upcoming R2 SUV for the ride-hail giant’s network. Rivian declined to comment beyond what it detailed in the filing. Rivian has long told shareholders that it could reach positive EBITDA (earnings before interest, taxes, depreciation, and amortization) in 2027 as long as it successfully launched the R2 SUV, and increased its software revenue. But the company has faced an increasing number of hurdles before that goal: The federal EV tax credit was discontinued, its ability to sell regulatory credits t