The new technologies include cost reductions across a variety of areas, including the vehicle harness, body structure and battery pack, Scaringe says, adding: "These technology changes represent Rivian's continued emphasis on driving greater cost efficiency. They will significantly contribute to driving towards Rivian's long-term gross margin targets." Rivian also will introduce a smaller battery pack and a variety of different trim and build combinations over the course of the next year, the CEO says. "What that does is, it provides us with a broader spread of prices or price choices for consumers on the R1 platform to essentially be able to target both the most price-sensitive customers, as well as customers looking to buy sort of the fully loaded maximum-content vehicle," Scaringe says. Scaringe says Rivian is focused on developing the company's next set of products around the R2 platform, which it is plans to introduce early next year.