Rivian's Key to Success May Not Be Its Vehicles
Key Points
Mind Robotics was founded by Rivian Automotive CEO RJ Scaringe.
Rivian owns about a third of Mind, which could prove to be valuable.
Mind just hired a former Ford EV executive to lead the company.
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While most Rivian Automotive (NASDAQ: RIVN) investors and observers are focusing on the company's vehicle deliveries and adoption into the mainstream, the company's most valuable bet might actually be in robotics.
In 2025, Rivian CEO RJ Scaringe founded Mind Robotics, an AI-enabled technology company focused on building high-impact robots. The electric vehicle company owns about a third of Mind, and in turn, Mind serves as Rivian's primary manufacturing partner.
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Mind hired an experienced executive this week, Doug Field. Field previously ran Tesla's Model 3 program and Ford Motor Company's EV operations. He will serve as president of Mind Robotics. The start-up's partnership with Rivian gives it a leg up on competition and an immediate place to deploy its technology.
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Mind Robotics could have extensive use cases across manufacturing. Rivian's stake is reportedly worth a little more than $1 billion at this point. If the business takes off, Rivian and its investors will be along for the ride. Mind is also well-funded for an early-stage company, having reported raising $1 billion in the past year.
Rivian launched its more affordable R2 fleet this year and delivered a record 19,248 vehicles in the third fiscal quarter. Shares of Rivian are still down 34% this year and more than 87% for all time as of this writing. Ultimately, Rivian still needs its EV lineup to become profitable, but the surprise success of Mind Robotics could be a lucrative win for investors.
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Catie Hogan has positions in Rivian Automotive. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.
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