CALLAHAN MICHAEL JOHN sold $244K of RIVN

Honeywell Aerospace sued Rivian in Arizona federal court for alleged patent infringement of seven vehicle technologies, including safety monitoring and autonomous navigation. Honeywell seeks damages, an injunction, and a jury trial. Rivian shares fell 1.5% to $14.91, with a $22B market cap.

Uber agreed to invest $1.25 billion in Rivian, purchasing up to 50,000 autonomous R2 SUVs by 2031. The deal, announced in March 2026, includes an initial $300 million investment and is contingent on Rivian meeting autonomy milestones. Rivian, which has not yet turned a profit, aims to deliver 65,000-67,000 cars in 2026. The partnership is crucial for Uber's long-term profitability and Rivian's production scale.

U.S. EV sales rose 2.5% in August but were down 46.9% year-over-year, per Cox Automotive. Tesla unveiled the Roadster's launch date for October 1, delayed from 2020. A U.S. regulator questioned Tesla's autonomous vehicle design. Lucid and Bolt partnered on autonomous vehicles, with Lucid facing supplier and production challenges. Rivian's CEO cited supplier constraints as a production bottleneck. GM's hybrid market share lagged behind Toyota and Honda, with dealers reporting customer attrition.

Rivian Automotive (RIVN) reported Q2 revenue of $1.658B, up 27% YoY, with gross profit of $179M. The company narrowed its full-year EBITDA loss guidance and reduced capital expenditure plans. Shares rose 2% in after-hours trading.

Rivian introduces the R2, a mid-size electric SUV competing with Tesla's Model Y. The R2 features advanced tech, off-road capabilities, and a starting price of $44,990. Rivian partners with Volkswagen for future electronic architecture, aiming to debut in 2025. The R2's charging speed and European launch timeline are concerns.

Rivian (RIVN) shares rose 4.83% to $15.97 on Thursday, driven by positive sentiment in the EV sector following a large robotaxi deal by Lucid. Rivian is set to participate in the Evercore ADAS, AV & AI Forum, highlighting its focus on advanced automotive technologies. Despite recent challenges in production scaling and insider share sales, the company is seen as having significant upside potential.