In this article
DETROIT — Rivian Automotive
will let artificial intelligence take the wheel to try to convince investors that its future can be more lucrative than its past.
The all-electric vehicle maker is set to host its first “Autonomy and AI Day” Thursday as its core business of producing and selling EVs hasn’t been as fruitful as expected since its initial public offering in 2021.
Shares of the automaker are off more than 80% since then as internal and external challenges have caused sales and production to be slower than planned. The company also continues to lose billions of dollars annually, despite significant cost reductions and gains in software revenue thanks to a multiyear $5.8 billion joint venture deal with German automaker Volkswagen.
