Rivian Automotive Inc (RIVN) 2021 Q3 法說會逐字稿

Thank you for standing by and welcome to the Rivian Third Quarter Fiscal 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question and answer session.

感謝您的支持並歡迎參加 Rivian 2021 財年第三季度收益電話會議。此時，所有參與者都處於只聽模式。演講者演講結束後，將進行問答環節。

(Operator Instructions). As a reminder, today's program maybe recorded. And now I would like to introduce your host for today's program, Derek Mulvey, Senior Manager of Investor Relations. Please go ahead

（操作員說明）。提醒一下，今天的節目可能會錄製。現在我想介紹一下今天節目的主持人，投資者關係高級經理 Derek Mulvey。請繼續

Good afternoon and thank you for joining us Rivian Third Quarter 2021 Earnings Call. Joining us in today's call we have RJ Scaringe, our Founder, Chairman and Chief Executive Officer; Jiten Behl, our Chief Growth Officer and Claire McDonough, our Chief Financial Officer. The copy of today's shareholder letter is available on our Investor Relations' website.

下午好，感謝您加入我們 Rivian 2021 年第三季度財報電話會議。加入我們今天的電話會議的還有我們的創始人、董事長兼首席執行官 RJ Scaringe；我們的首席增長官 Jiten Behl 和首席財務官 Claire McDonough。今天的股東信函副本可在我們的投資者關係網站上查閱。

Before we begin, I would like to remind you during the course of this conference call our comments and responses to your questions about management's view as of today only and will include statements related to our business that are forward-looking statements under Federal Securities Law including without limitations statements regarding our market opportunity, industry trends, business operations, strategy and goals, our second domestic manufacturing facility and our expectations regarding date of deliveries.

在我們開始之前，我想在本次電話會議期間提醒您，我們僅對您關於管理層截至今天的觀點的問題發表評論和回應，並將包括與我們業務相關的陳述，這些陳述是聯邦證券法下的前瞻性陳述，包括關於我們的市場機會、行業趨勢、業務運營、戰略和目標、我們的第二家國內製造工廠以及我們對交付日期的期望的無限制聲明。

Actual results may differ materially from those contain in or implied by these forward looking statements due to risks and uncertainties associated with our business. Except as maybe required by law, Rivian does not have any obligation to update or revised such statement as circumstances change.

由於與我們的業務相關的風險和不確定性，實際結果可能與這些前瞻性陳述中包含或暗示的結果存在重大差異。除非法律可能要求，Rivian 沒有義務隨著情況的變化更新或修訂此類聲明。

For discussion of the material, risks and other important factors that could impact actual results, please refer to the cautionary statement and risk factors contain in our third quarter 10-Q filed with the SEC in today shareholder letter.

有關可能影響實際結果的材料、風險和其他重要因素的討論，請參閱我們在今天向 SEC 提交的第三季度 10-Q 股東信中的警示性聲明和風險因素。

Both of which can be found in our Investor Relations website at rivian.com/investors. During this call, we will discuss both GAAP and non-GAAP financial measures, a reconciliation of GAAP and non-GAAP financial measures is provided in today's shareholder letter. With that, I'll turn the call over to RJ, who will begin with the opening remarks.

兩者都可以在我們的投資者關係網站 rivian.com/investors 上找到。在這次電話會議中，我們將討論 GAAP 和非 GAAP 財務指標，今天的股東信中提供了 GAAP 和非 GAAP 財務指標的對賬。有了這個，我將把電話轉給 RJ，他將從開場白開始。

Good morning, everyone and thank you for joining us this afternoon for our fist earnings call. As Derek mentioned, just before this call we published our shareholder letter which includes an overview of the progress we have made over the recent months and I encourage you all to read it for additional details around some of the items that we will cover on today's call.

大家早上好，感謝你們今天下午參加我們的第一次財報電話會議。正如 Derek 所提到的，就在這次電話會議之前，我們發布了我們的股東信函，其中概述了我們在最近幾個月中取得的進展，我鼓勵大家閱讀它以了解我們將在今天的電話會議中介紹的一些項目的更多詳細信息.

Before I dive into some of our recent milestones, I wanted to provide a quick overview of our business and mission for those who are new to Rivian. Our generation will have profound impact on the planet and the world, our kid's kid's kids will inherit. We can spend a lot of time on the specifics of climate change but the reality is we as society are rapidly changing the composition of atmosphere.

在深入探討我們最近的一些里程碑之前，我想為那些剛接觸 Rivian 的人簡要介紹一下我們的業務和使命。我們這一代將對地球和世界產生深遠的影響，我們的孩子的孩子的孩子將繼承。我們可以花很多時間在氣候變化的細節上，但現實是我們作為社會正在迅速改變大氣的組成。

If we want like as we know it to thrive for many generations for now, we must change. This is what inspired me to start Rivian and this is what drives the decisions we made as an organization including the decision to become a public company. The challenge of shifting on fossil fuels is as big as it comes and it's going to require people, companies and the entire industries to come together in ways we never had before.

如果我們想要像我們所知道的那樣在幾代人中茁壯成長，我們就必須改變。這就是激勵我創辦 Rivian 的原因，也是推動我們作為一個組織做出決定的原因，包括成為上市公司的決定。轉向化石燃料的挑戰是巨大的，它將需要人們、公司和整個行業以前所未有的方式團結起來。

From day one, our focus has always been to maximize impact, to keep the world adventurous forever. The world forever is a humbling world. It's very easy for us to think about the world in a context of our lives. So, when you think about the world in the context of the many generations to come, it requires to not simply inspire people to buy our vehicles, we must inspire shift and behavior in a new relationship with world around us.

從第一天起，我們的重點一直是最大限度地發揮影響力，讓世界永遠保持冒險精神。世界永遠是一個謙卑的世界。我們很容易在我們生活的背景下思考這個世界。因此，當您在未來幾代人的背景下思考世界時，不僅要激勵人們購買我們的車輛，我們還必須激發與我們周圍世界建立新關係的轉變和行為。

The transportation industry is at the very start of a transformation, bigger in scale than the shift from the (inaudible) of the automobile. The business model, value chain, customer model and technology will be completely remapped as we redefined how we move people and goods on our planet. Rivian exists to create products and services that help our planet transition to carbon neutral energy in transportation.

運輸業正處於轉型的初期，其規模比汽車（聽不清）的轉變更大。隨著我們重新定義我們在地球上運送人員和貨物的方式，商業模式、價值鏈、客戶模式和技術將被完全重新映射。 Rivian 的存在是為了創造產品和服務，幫助我們的星球在交通運輸中過渡到碳中和能源。

Our business encompasses both the consumer and commercial markets. In the consumer space, we launched our R1 platform with our first vehicle, the R1T and R1S, our handshake with the world and our first step in building relationship with our customers. Engineered for all of life's adventures, our vehicles uniquely combined performance, capability, utility and efficiency. As of yesterday, we had 71,000 pre-orders for our R1 vehicles.

我們的業務涵蓋消費者和商業市場。在消費領域，我們推出了 R1 平台，推出了我們的第一款車型 R1T 和 R1S，這是我們與世界的握手，也是我們與客戶建立關係的第一步。我們的車輛專為生活中的所有冒險而設計，獨特地結合了性能、能力、實用性和效率。截至昨天，我們的 R1 車輛預購了 71,000 輛。

In the commercial market, we are bringing to market the Rivian Commercial Van platform. Our first vehicle on this platform will be our 700 cubic foot electric delivery van or EDV 700. We designed these vehicles working closely with Amazon who has placed an initial order of 100,000 EDVs. Our commercial vehicles are designed with a focus on safety, comfort and ease of operation.

在商業市場，我們將 Rivian Commercial Van 平台推向市場。我們在這個平台上的第一輛車將是我們的 700 立方英尺電動送貨車或 EDV 700。我們與亞馬遜密切合作設計了這些車輛，亞馬遜已下了 100,000 輛 EDV 的初始訂單。我們的商用車在設計上註重安全性、舒適性和易於操作性。

They offer a step change in driver experience while also delivering a lower total cost of ownership. Every commercial vehicle sold to Amazon is complemented by FleetOS, our proprietary end-to-end centralized fleet management platform with a recurring monthly subscription fee. The 700-cubic foot EDV has achieved a range of 201 miles based on internal testing using official EPA test procedures.

它們在駕駛員體驗方面發生了重大變化，同時還降低了總擁有成本。出售給亞馬遜的每輛商用車都配有 FleetOS，這是我們專有的端到端集中式車隊管理平台，每月定期收取訂閱費。根據使用官方 EPA 測試程序進行的內部測試，這款 700 立方英尺的 EDV 已實現 201 英里的續航里程。

We have successfully received our certifications to sell these vehicles and we're trying to deliver our first saleable vehicles to Amazon this month. Both our consumer and commercial products are supported by a full suite of value added services that address the entire vehicle life cycle and deepen our customer relationships.

我們已成功獲得銷售這些車輛的認證，我們正努力在本月向亞馬遜交付我們的第一輛可銷售車輛。我們的消費產品和商業產品都得到一整套增值服務的支持，這些服務解決了整個車輛生命週期並加深了我們的客戶關係。

Starting with the clean sheet, we built a vertically integrated ecosystem comprised of our vehicle technology platform, cloud architecture, product development and operational capabilities, products and services. Our ecosystem is designed to deliver rapid development cycles, structural cost advantages and exceptional customer experiences.

從零開始，我們建立了一個垂直整合的生態系統，由我們的車輛技術平台、雲架構、產品開發和運營能力、產品和服務組成。我們的生態系統旨在提供快速的開發週期、結構成本優勢和卓越的客戶體驗。

After a 12-year journey of [building] our strategy and offering, is ready for customer deliveries. It has been incredibly rewarding to see the excitement and enthusiasm for what we're building. Over the past few weeks, we received many recognitions and acknowledgments from editorial and news outlets including Newsweek, Forbes, Electrek and Edmunds. And add to this list earlier this week, the R1T was selected as Motor Trend's 2022 Truck of the Year after an exhaustive testing program.

經過 12 年的 [構建] 我們的戰略和產品之旅，我們已準備好為客戶交付產品。看到對我們正在建設的東西的興奮和熱情，真是令人難以置信。在過去的幾周里，我們收到了來自新聞周刊、福布斯、Electrek 和 Edmunds 等編輯和新聞媒體的許多認可和認可。本週早些時候，R1T 在經過詳盡的測試計劃後被選為 Motor Trend 的 2022 年度卡車。

This award recognizes the truck that pushes boundaries across all aspects including safety and efficiency, value, advancement of design, engineering excellence and performance. We're honored by this recognition and the opportunity to illustrate how a clean sheet technology-focused vehicle could eliminate long compromise.

該獎項旨在表彰在安全和效率、價值、設計進步、工程卓越和性能等各個方面突破界限的卡車。我們很榮幸獲得這一認可，並有機會說明以乾淨的床單技術為重點的車輛如何消除長期妥協。

After years of meticulous attention to detail, it is rewarding to hear Motor Trend states that this may have been the most significant recognition that they have given since the start of the award in 1949. Additionally earlier this year, we completed a world first, a historic all electric crossing of the U.S. in R1T on a Trans-America trail.

經過多年對細節的一絲不苟，很高興聽到 Motor Trend 表示這可能是自 1949 年獎項開始以來他們給予的最重要的認可。此外，今年早些時候，我們完成了世界第一， R1T 穿越美國歷史悠久的全電動穿越美國小徑。

From a production perspective, I wanted to highlight a significant milestone for our team, the production and delivery of our first vehicles. As the first saleable R1T drove off to production line in September, I was joined by my family and thousands of colleagues to celebrate this exciting and emotional moment for our organization.

從生產的角度來看，我想強調我們團隊的一個重要里程碑，即我們第一輛汽車的生產和交付。當第一輛可銷售的 R1T 於 9 月投入生產時，我的家人和數千名同事與我一起慶祝我們組織的這一激動人心的時刻。

And earlier this week, Claire and I purchased the first two saleable R1S vehicles where a steep part of our climb but I couldn't be more grateful to be alongside such a dedicated and passionate team who poured their energy and soul into bringing these vehicles to life.

本週早些時候，克萊爾和我購買了前兩輛可銷售的 R1S 車輛，這是我們攀登的一段陡峭部分，但我非常感激能與如此專注和充滿激情的團隊並肩作戰，他們傾注了他們的精力和靈魂將這些車輛帶到了生活。

I'll stop on this point for a second and speak to our manufacturing progress. Launching and ramping production of three different vehicles within a few months is an incredible tough challenge. This production ramp requires the simultaneous ramp of our supply chain, hiring and training of our product workforce, equipment bring-up and rapid iterations through production quality loops.

我將在這一點上稍作停頓，談談我們的製造進展。在幾個月內推出和量產三種不同的車輛是一項令人難以置信的艱鉅挑戰。這種生產提升需要同時提升我們的供應鏈、招聘和培訓我們的產品員工、設備啟動和通過生產質量循環的快速迭代。

These challenges have been exacerbated, given the state of our global supply chain, tight labor market and of course the complications from COVID. As of yesterday, we have produced 652 R1 vehicles and delivered 386 of these including the production sale of our first two recently certified R1S vehicles earlier this week.

鑑於我們的全球供應鏈狀況、勞動力市場緊張，當然還有 COVID 帶來的並發症，這些挑戰變得更加嚴峻。截至昨天，我們已經生產了 652 輛 R1 車輛並交付了其中的 386 輛，其中包括本週早些時候我們前兩輛最近獲得認證的 R1S 車輛的量產銷售。

With 13 working days left at our Normal facility, our dedicated teams are working as hard as possible to get as many customers or vehicles by year end. For 2021, we expect to produce a few hundred vehicle short of our initial 1,200-vehicle production target. Following the start of production for the R1T, we made the decision to begin introducing the R1S and TR1 production line ultimately ramping up the R1S in November while also ramping production of the R1T was more challenging than expected.

在我們的正常工廠還剩 13 個工作日時，我們的專業團隊正在盡最大努力爭取在年底前獲得盡可能多的客戶或車輛。到 2021 年，我們預計將比我們最初的 1,200 輛生產目標少生產幾百輛。在 R1T 開始生產之後，我們決定開始引入 R1S 和 TR1 生產線，最終在 11 月增加 R1S，同時增加 R1T 的生產比預期更具挑戰性。

We produced enough R1S' to support validation and certification which are critical for our R1S production ramp in early 2022. Given the importance of R1S, these are just -- this was the strategic approach that we felt optimized long term value for the business. We are encouraged by the progress and learnings our team continues to incorporate into our operations and we have achieved our primary objective of certifying the R1T, R1S in EDV 700 for sale this year.

我們生產了足夠多的 R1S 來支持驗證和認證，這對我們在 2022 年初的 R1S 生產量增長至關重要。鑑於 R1S 的重要性，這些只是 - 這是我們認為優化了業務長期價值的戰略方法。我們的團隊繼續將進步和學習融入到我們的運營中，這讓我們感到鼓舞，我們已經實現了在今年銷售 EDV 700 中的 R1T、R1S 認證的主要目標。

In early 2022, we plan to complete certification of the EDV 500 which is both narrower and shorter than the 700. Our production ramp of the R1T, R1S, EDV 700 and EDV 500 will continue into next year and we remained confident in our long-term manufacturing trajectory.

我們計劃在 2022 年初完成比 700 更窄和更短的 EDV 500 的認證。我們的 R1T、R1S、EDV 700 和 EDV 500 的生產量將持續到明年，我們對我們的長期-期限製造軌跡。

Just as we're scaling our manufacturing facility, hundreds of our suppliers are also scaling their production to match our vehicle ramp rate. Our procurement team has remained nimble and continues to work with our supplier partners across all tiers to mitigate issues stemming from our supply chain delay of market delay to market and the COVID pandemic.

正如我們正在擴大我們的製造設施一樣，我們的數百家供應商也在擴大他們的生產以匹配我們的車輛爬坡率。我們的採購團隊一直保持靈活，並繼續與各級供應商合作夥伴合作，以緩解因供應鏈延遲、市場延遲上市和 COVID 大流行而引起的問題。

Given the uncertainty within the supply chain, we decide to carry higher inventory levels than presumably assumed to help ensure we consistently have parts to build. The good news is we do not believe any of our supply chain challenges represent long-term systemic issues.

鑑於供應鏈中的不確定性，我們決定攜帶比假設更高的庫存水平，以幫助確保我們始終如一地製造零件。好消息是，我們認為我們的任何供應鏈挑戰都不代表長期的系統性問題。

While our product development and manufacturing teams had been focused on ramping our Normal production facility, our real estate and facilities team had been working diligently to ensure we remained well-positioned to capture and drive the accelerated large scale adoption of sustainable transportation. We are excited to announce today our partnership with the state of Georgia which will be the home of our second U.S. manufacturing facility.

雖然我們的產品開發和製造團隊一直專注於擴大我們的正常生產設施，但我們的房地產和設施團隊一直在努力工作，以確保我們保持有利地位，以捕捉和推動加速大規模採用可持續交通。我們今天很高興地宣布我們與佐治亞州建立合作夥伴關係，這將是我們在美國的第二個製造工廠的所在地。

The site selection was the culmination of a comprehensive process in which the Rivian team evaluated a variety of sites across the country, looking for the right combination of site location and logistics, access to talent and proximity to suppliers. This project represents the largest economic development deal in Georgia's history. The facility will be east of Atlanta in Morgan and Walton counties and will employ more than 7,500 employees at peak production.

選址是一個綜合過程的結果，Rivian 團隊在該過程中評估了全國各地的各種場地，尋找場地位置和物流、人才獲取和與供應商接近的正確組合。該項目代表了格魯吉亞歷史上最大的經濟發展交易。該工廠將位於亞特蘭大以東的摩根縣和沃爾頓縣，在生產高峰期將僱用 7,500 多名員工。

From a construction perspective, we plan to break ground this coming summer with the intention of having facility start producing saleable vehicles by 2024. The facility will produce our next-generation of Rivian vehicles with an eventual target capacity of 400,000 annual units. I want to thank the entire state of Georgia. We're excited to make Georgia another home for us.

從建設的角度來看，我們計劃在即將到來的夏天破土動工，計劃在 2024 年之前讓工廠開始生產可銷售的車輛。該工廠將生產我們的下一代 Rivian 車輛，最終目標產能為 400,000 輛。我要感謝整個喬治亞州。我們很高興讓佐治亞州成為我們的另一個家。

The last major milestone I wanted to highlight was the completion of our initial public offering in November in which we raised $13.7 billion of first proceeds. We are extremely appreciative of the excitement and receptivity that our existing and new shareholders have shown.

我想強調的最後一個重要里程碑是我們在 11 月完成了首次公開募股，其中我們籌集了 137 億美元的首期收益。我們非常感謝我們現有和新股東表現出的興奮和接受度。

These funds enable us to execute on our near term objectives including the growth of our manufacturing capabilities, further investment into our vertically integrated technologies and continued infrastructure and capabilities to support customer experience and engagement.

這些資金使我們能夠執行我們的近期目標，包括提高我們的製造能力、進一步投資於我們的垂直整合技術以及持續的基礎設施和能力，以支持客戶體驗和參與。

As part of our IPO, we established Forever by Rivian to extend the -- our impact beyond the (inaudible) [make] and the associated competition they hope to inspire. Forever's mission is dedicated to addressing our planet's climate crisis and preserving the critical biodiversity needed for our planet's long-term survival.

作為我們 IPO 的一部分，我們通過 Rivian 建立了 Forever，以將我們的影響力擴展到（聽不清）[make] 和他們希望激發的相關競爭之外。 Forever 的使命是致力於解決我們星球的氣候危機並保護我們星球長期生存所需的關鍵生物多樣性。

With this, we donated 1% of Rivian's pre-IPO outstanding equity to Forever, making the natural world a stakeholder in our success. Forever will be focused on land conservation, sustainable consumption initiatives, preserving biodiversity and research and educational stewardship.

藉此，我們將 Rivian 上市前 1% 的流通股本捐贈給 Forever，讓自然界成為我們成功的利益相關者。 Forever 將專注於土地保護、可持續消費倡議、保護生物多樣性以及研究和教育管理。

The value of Forever's equity is nearly 1 billion today and I'm excited by the impact this donation can have in preserving the planet for future generations. Now, I will hand it over to Jiten who will touch on the customer engagement side of the business.

今天，Forever 股權的價值接近 10 億美元，我對這筆捐款在為後代保護地球方面所產生的影響感到興奮。現在，我將把它交給 Jiten，他將涉及業務的客戶參與方面。

Thanks RJ. We [continue] to observe strong affinity for our brand as evidence by the [inaudible] we have seen in our backlog of pre-orders. At Rivian, our pre-order reflects a refundable $1,000 deposit in a [consumer] vehicle including everything from paint and interior color for accessibility.

謝謝 RJ。我們 [繼續] 觀察到對我們品牌的強烈親和力，作為我們在預購積壓中看到的 [聽不清] 的證據。在 Rivian，我們的預購反映了在 [消費者] 車輛中可退還的 1,000 美元押金，包括從油漆和內飾顏色到可訪問性的所有內容。

As of end of our third quarter, we had approximately 48,000 R1 pre-orders from customers across the United States and Canada. Since then, we have added another 20,000 next pre-orders, [taking] our backlog as of yesterday was 71,000.

截至第三季度末，我們從美國和加拿大的客戶那裡獲得了大約 48,000 份 R1 預訂單。從那時起，我們又增加了 20,000 個下一個預購訂單，截至昨天，我們的積壓訂單為 71,000 個。

Before I jump into a few additional customer experience milestones, I wanted to spend a few minutes walking to our go-to market strategy. The regular go-to market strategy is rooted in three foundational principles, all designed to efficiently solve existing customer pain points.

在我進入一些額外的客戶體驗里程碑之前，我想花幾分鐘了解一下我們的市場戰略。常規的進入市場策略植根於三個基本原則，所有這些都旨在有效地解決現有的客戶痛點。

First, we go direct to the customer. By doing that, we are able to ensure that quality of each interaction. Second, we are digital force which means we have invested heavily in the robust cloud-based digital backbone that enables and enhances each interaction. We expect this will provide deep learning, (inaudible) experiences and scalability as we grow.

首先，我們直接面向客戶。通過這樣做，我們能夠確保每次交互的質量。其次，我們是數字力量，這意味著我們在強大的基於雲的數字骨幹上投入了大量資金，以支持和增強每次互動。我們希望隨著我們的成長，這將提供深度學習、（聽不清的）體驗和可擴展性。

As an example, our [intuitive] digital process started [briefly] as these were otherwise required several (inaudible) leadership with the [third] case (inaudible) experience we can manage in minutes from your couch. And third, we maintained end to end control of the entire customer journey. This means every interaction is stitched together into one seamless experience to a set of vertically integrated digital and physical capability.

例如，我們的 [直觀] 數字流程 [簡短地] 開始，因為否則需要幾個（聽不清）領導以及 [第三個] 案例（聽不清）經驗，我們可以在您的沙發上幾分鐘內管理。第三，我們保持對整個客戶旅程的端到端控制。這意味著每一次交互都被拼接成一個無縫體驗，以一組垂直整合的數字和物理能力。

These key foundations (inaudible) allowed us to put the customer at the center of each touch point. Over the past few months, years of hard work, concepts and design have been put into action. You will find further details in our shareholder letter but I will touch on a few.

這些關鍵基礎（聽不清）使我們能夠將客戶置於每個接觸點的中心。在過去的幾個月裡，多年的努力、概念和設計已經付諸實施。您可以在我們的股東信中找到更多詳細信息，但我會談到一些。

In September, we kicked off our First Mile program. This program provides a variety of ways for consumers to experience the Rivian [makers] including at-home [demo] drive and [event-based] experiences and drives. This launch, we have hosted over 10,000 guests in our vehicles and have held drive in handful of locations including New York, Normal, Seattle and California.

9 月，我們啟動了“第一英里”計劃。該計劃為消費者提供了多種方式來體驗 Rivian [製造商]，包括在家 [演示] 駕駛和 [基於事件的] 體驗和駕駛。此次發布，我們在車輛上接待了超過 10,000 名客人，並在紐約、Normal、西雅圖和加利福尼亞等少數幾個地方舉行了駕車活動。

Additionally, as we started (inaudible) in September, our delivery team began to ramp up. As one of many interactions we have with our customers, they put a tremendous amount of heart into our delivery experience. Deliveries happened primarily at our customers' homes, so that they can experience the moment comfortably with family, friends and their whole community if they so choose.

此外，隨著我們在 9 月開始（聽不清），我們的交付團隊開始增加。作為我們與客戶的眾多互動之一，他們為我們的交付體驗傾注了大量心血。交付主要發生在我們客戶的家中，因此如果他們願意，他們可以與家人、朋友和整個社區一起舒適地體驗這一刻。

Procuring these deliveries, our dedicated field specialists are there to walk the customers to everything they need to know about their vehicles and tailored the delivery experience to the consumer and their family. As we move into October, we opened our first Rivian hub in Venice, California. If you're unfamiliar with the Rivian spaces, there are places for our customers, fans and the local community to come together, connect and share ideas.

在採購這些交付時，我們敬業的現場專家將帶領客戶了解他們需要了解的有關車輛的所有信息，並為消費者及其家人量身定制交付體驗。隨著我們進入 10 月份，我們在加利福尼亞州的威尼斯開設了我們的第一個 Rivian 中心。如果您不熟悉 Rivian 空間，我們的客戶、粉絲和當地社區可以在這裡聚集、交流和分享想法。

Our biggest portfolio will consist of hub like a location in Venice, (inaudible) spaces which will be temporary in targeted locations, outpost and more adventurous location and lastly last track of protective land that are accessible to customers.

我們最大的投資組合將包括像威尼斯的地點這樣的樞紐、在目標地點臨時的（聽不見的）空間、前哨和更冒險的地點，最後是客戶可以使用的保護性土地的最後一條軌道。

On the service side, we are prioritizing the role out of our service centers, targeting the highest computations of pre-order customers. The service centers are complemented by a fleet of mobile service vans [literally] performed the vast majority of service staff at our customer's home while expanding the service coverage area.

在服務方面，我們優先考慮我們服務中心的角色，目標是預購客戶的最高計算量。服務中心配有移動服務車車隊 [字面意思] 在我們客戶家中執行絕大多數服務人員，同時擴大服務覆蓋範圍。

Our delivery cadence is synchronized with the service infrastructure to ensure a worry-free and highly responsive support experience. Our 24/7 service support and predictive diagnostic capability would further enhance the service (inaudible). Next, let me pass the call along to Claire who would provide an update on our financials.

我們的交付節奏與服務基礎設施同步，以確保無憂且響應迅速的支持體驗。我們的 24/7 服務支持和預測診斷能力將進一步增強服務（聽不清）。接下來，讓我將電話轉給克萊爾，她將提供我們財務狀況的最新信息。

Thanks Jiten. I wanted to echo RJ and Jiten's excitement in talking to all on our first earnings call as a public company. I'll start with the review of our third quarter results. In September, we delivered our first 11 R1Ts to customers, generating $1 million in revenue. As RJ mentioned, given that we just started production in September, the third quarter volumes on our manufacturing lines are a small fraction of our expected long-term production capacity.

謝謝吉騰。我想回應 RJ 和 Jiten 在我們作為上市公司的第一次財報電話會議上與所有人交談時的興奮。我將從回顧我們的第三季度業績開始。 9 月，我們向客戶交付了前 11 個 R1T，產生了 100 萬美元的收入。正如 RJ 所說，鑑於我們剛剛在 9 月份開始生產，我們生產線的第三季度產量僅占我們預期長期產能的一小部分。

In the near term, we expect that this dynamic of high fixed cost associated with operating and running our large scale, highly vertically integrated plan amortized over a small but growing number of vehicles produced across the R1 and RCV platform will continue to have a negative drag on gross profit. As a result, in the third quarter we generated a negative gross profit of $82 million.

在短期內，我們預計與運營和運行我們的大規模、高度垂直整合的計劃相關的高固定成本動態將繼續對 R1 和 RCV 平台生產的少量但不斷增長的車輛產生負面影響關於毛利。結果，我們在第三季度產生了 8200 萬美元的負毛利潤。

Additionally, we recorded a lower cost for net realizable value, LCNRV adjustment to write-down the value of certain inventory, the amount we anticipate receiving upon vehicle sale after considering future costs necessary to ready the vehicle for sale. This expense negatively impacts gross profit in the third quarter and we expect it to also impact upcoming quarters in the near future.

此外，我們記錄了較低的可變現淨值成本，LCNRV 調整以減記某些庫存的價值，我們在考慮準備出售車輛所需的未來成本後預計在車輛銷售時收到的金額。這項費用對第三季度的毛利潤產生了負面影響，我們預計它也會在不久的將來影響即將到來的幾個季度。

For example, in the fourth quarter we continue to build up work inventory balance to help mitigate the supply chain challenges we've experienced to date. We immediately record the LCNRV adjustment which adds to the concentration of fixed cost we recognized as part of our cost of goods sold.

例如，在第四季度，我們繼續建立工作庫存平衡，以幫助緩解我們迄今為止遇到的供應鏈挑戰。我們立即記錄 LCNRV 調整，這增加了我們確認為已售商品成本一部分的固定成本的集中度。

As a result of these accounting dynamics, the marginal vehicle we produced in Q4 will have a limited impact on our cost of goods sold. And given the inflationary market backdrop, we also continue to evaluation the pricing for our vehicle.

由於這些會計動態，我們在第四季度生產的邊際車輛將對我們的銷售成本影響有限。鑑於通貨膨脹的市場背景，我們還將繼續評估我們車輛的定價。

Turning to our operating expenses, research and development expense for the quarter was 441 million as compared to 220 million in the third quarter of 2020. The higher expense was due to increased efforts related to our R1 consumer vehicle program as well as our EDV, commercial van program.

談到我們的運營費用，本季度的研發費用為 4.41 億美元，而 2020 年第三季度為 2.2 億美元。較高的費用是由於與我們的 R1 消費汽車計劃以及我們的 EDV、商業範計劃。

We also experienced increased expenses related to other advanced product development activities that are critical for our future products. SG&A expense for the third quarter of 2021 was $253 million as compared to $68 million for the third quarter of 2020. The primary drivers of this increase are related to scaling our sales and service operations, commercial office location, customer-facing facility and corporate functions to support future business growth.

我們還經歷了與其他對我們未來產品至關重要的高級產品開發活動相關的費用增加。 2021 年第三季度的 SG&A 費用為 2.53 億美元，而 2020 年第三季度為 6800 萬美元。這一增長的主要驅動力與擴大我們的銷售和服務運營、商業辦公地點、面向客戶的設施和公司職能有關以支持未來的業務增長。

During the third quarter, we recognized the $458 million non-operating expense related to the loss on our convertible note. This was the result of the issuance and subsequent mark to market valuation of our 2021 convertible note.

在第三季度，我們確認了與可轉換票據損失相關的 4.58 億美元的營業外費用。這是我們 2021 年可轉換票據的發行和後續按市值計價的結果。

This was a noncash expense. Our capital expenditures for the third quarter were 469 million, driven by our continued strategic investments in infrastructure was primarily due to the expansion of our Normal factory as well as investments in corporate facilities, service operations and experience spaces.

這是一項非現金支出。我們第三季度的資本支出為 4.69 億美元，主要是由於我們對基礎設施的持續戰略投資，主要是由於我們正常工廠的擴建以及對企業設施、服務運營和體驗空間的投資。

Now turning to our cash balance, we ended September with $5.2 billion of cash on our balance sheet. Since then, we completed our IPO, raising $13.5 billion of net proceeds and also raised $1.2 billion of net funds through senior secured notes. Adjusting our cash balance for these two fundraising event, we would have ended the third quarter with approximately $20 billion of cash on the balance sheet.

現在轉向我們的現金餘額，截至 9 月份，我們的資產負債表上有 52 億美元的現金。從那時起，我們完成了首次公開募股，籌集了 135 億美元的淨收益，並通過優先擔保票據籌集了 12 億美元的淨資金。為這兩個籌款活動調整我們的現金餘額，我們將在第三季度結束時在資產負債表上擁有大約 200 億美元的現金。

As RJ highlighted, there's a tremendous opportunity in front of us to help drive the future of the $9 trillion transportation and services markets. However, building out our organization and infrastructure to support our growth requires significant investment. The funds we raised throughout 2021 offers us the opportunity to execute on our near term objective. However, we will continue to look for opportunities to pull toward the investments to further accelerate our strategy.

正如 RJ 強調的那樣，我們面前有一個巨大的機會來幫助推動價值 9 萬億美元的運輸和服務市場的未來。然而，建設我們的組織和基礎設施以支持我們的增長需要大量投資。我們在 2021 年籌集的資金為我們提供了執行近期目標的機會。但是，我們將繼續尋找機會進行投資，以進一步加快我們的戰略。

As we look a few weeks ahead, we remained focus on ramping our R1 production and deliveries. In addition with the finalization of our EDV certification, we expect to start making deliveries of the EDV 700 to Amazon before the year end. We plan to provide full-year 2022 guidance during our Fourth Quarter and Fiscal Year 2021 Earnings Call. With that, let me turn the call back to RJ before opening up the line for Q&A.

展望未來幾週，我們仍然專注於提高 R1 的生產和交付。除了最終確定我們的 EDV 認證外，我們預計將在年底前開始向亞馬遜交付 EDV 700。我們計劃在第四季度和 2021 財年財報電話會議期間提供 2022 年全年指導。有了這個，讓我在打開問答線路之前將電話轉回 RJ。

Thanks Claire. As I mentioned, delivering our first R1T, R1S, EDV -- EDV vehicles is our primary goal for 2021. I appreciate our team for their focus and dedication to make this goal a reality despite the unprecedented backdrop of COVID in a challenging supply chain environment.

謝謝克萊爾。正如我所提到的，交付我們的第一輛 R1T、R1S、EDV - EDV 車輛是我們 2021 年的主要目標。儘管在充滿挑戰的供應鏈環境中出現了前所未有的 COVID 背景，但我感謝我們的團隊專注和致力於實現這一目標.

With the growing backlog of 71,000 pre-orders and our 100,000-unit order from Amazon, we are excited to begin to satisfy the tremendous demand for our products and services. Our team has rallied around our shared values and continue to demonstrate a tireless work ethic as we continue scaling our production volumes.

隨著 71,000 份預購訂單和我們從亞馬遜的 100,000 份訂單的不斷增長，我們很高興開始滿足對我們產品和服務的巨大需求。我們的團隊圍繞我們的共同價值觀團結起來，並在我們繼續擴大產量的過程中繼續表現出不知疲倦的職業道德。

Thanks again to everyone for being with us today and with that, let me turn it over to the operator for questions.

再次感謝大家今天和我們在一起，讓我把它交給接線員提問。

(Operator Instructions). Our first question comes from the line of Adam Jonas from Morgan Stanley. Your question please?

（操作員說明）。我們的第一個問題來自摩根士丹利的 Adam Jonas。請問你的問題？

Thanks. Good afternoon everybody. One question I want to follow up, please, on the capacity expansion. I thought the idea was to ramp up Normal first, see everything that works and what doesn't work and then use those learnings to optimize the selection and the architecture of your second plant. So, kind of why expand so soon and how can you still get those learnings done?

謝謝。大家下午好。我想跟進一個關於容量擴展的問題。我認為這個想法是首先提高 Normal，查看所有有效的和無效的，然後使用這些學習來優化您的第二個工廠的選擇和架構。那麼，為什麼這麼快就擴展了，你怎麼還能完成這些學習呢？

Thanks Adam. Yes, this is -- these are really key element of how we thought about cascading the programs and how we've architected the product development organization to be capable of not only running more than one program and launching more than one program at once but also to have those fast feedback loops between the different programs.

謝謝亞當。是的，這確實是我們考慮級聯程序的關鍵要素，以及我們如何構建產品開發組織，使其不僅能夠運行多個程序並同時啟動多個程序，而且還在不同的程序之間有那些快速的反饋循環。

So with that, the commercial van has actually learned a lot from the R1 platform in the R1 platform launch. And as we look at our next-generation vehicles, we'll certainly learn from what we're doing now on the R1 platform and what we're doing on the RCV platform and recognizing that those programs are fully developed and then launched.

因此，商用貨車在 R1 平台發布中實際上從 R1 平台中學到了很多東西。當我們審視我們的下一代車輛時，我們肯定會從我們現在在 R1 平台上所做的事情以及我們在 RCV 平台上所做的事情中學習，並認識到這些程序已經完全開發並啟動。

Want you see in terms of the second facility, the facility in Georgia, this is really -- this is key for us for expansion point of view and the time scales associated with bringing that plant online fully require us to just start that work as you heard early next year.

希望你看到第二個設施，喬治亞州的設施，這真的是 - 這對我們來說是擴展觀點的關鍵，與使該工廠完全上線相關的時間尺度要求我們像你一樣開始這項工作聽說明年年初。

Thanks RJ. And just as a follow-up, I would love any feedback on the early build that you've been delivering. What's going right, where there's -- where those issues and how you're addressing them?

謝謝 RJ。作為後續行動，我希望收到有關您提供的早期構建的任何反饋。什麼是正確的，在哪裡 - 這些問題在哪里以及您如何解決它們？

And in your last -- in S1, I think early in 20, sorry early in November, there was a comment that you expected the orders at the time which were 55,400 to have them delivered to consumers, these are the R1, I'm referring to, by the end of fiscal '23. I'm just curious if you can reiterate that today based on everything that you're seeing through your lens on the supply chain? Thanks RJ.

在你的最後一次——在 S1 中，我想是在 20 年初，對不起，在 11 月初，有評論說你預計當時的訂單是 55,400 份，可以將它們交付給消費者，這些是 R1，我是指的是，到 23 財年末。我只是想知道您是否可以根據您在供應鏈上通過鏡頭看到的一切來重申這一點？謝謝 RJ。

Sure. I guess first just to touch on the -- how we're seeing the vehicles in terms of quality must be delivered, there's a tremendous amount of excitement. What we're finding is early customers are excited to invite friends and family to take rides and we think that's part of what's driving the increased rate of (inaudible).

當然。我想首先要談談 - 我們如何看待必須交付的車輛質量，令人興奮不已。我們發現早期客戶很高興邀請朋友和家人搭車，我們認為這是推動（聽不清）率增加的部分原因。

And from a quality of point view, this has been a really key element for us where we're focused on making sure what we're delivering maintains and really delivers on quality in terms of how the vehicles are built, how they're put together.

從質量的角度來看，這對我們來說是一個非常關鍵的要素，我們專注於確保我們交付的產品在車輛的製造方式和安裝方式方面保持並真正交付質量一起。

And what's exciting is watching us add additional features. So through software with their updates, we're able to not only enhance and improve the software capabilities in the vehicle but to add features and to response to some of their early feedback that we're getting. And then with regards to -- go ahead, go ahead, I'm sorry I'm --

令人興奮的是看著我們添加額外的功能。因此，通過他們更新的軟件，我們不僅能夠增強和改進車輛中的軟件功能，而且能夠添加功能並響應我們收到的一些早期反饋。然後關於 - 繼續，繼續，對不起，我是 -

No -- yes, yes, the second part of the question on reiterating the delivery target by end of 2023.

不——是的，是的，關於重申 2023 年底交付目標的問題的第二部分。

Yes, so we were working as hard as we can to ramp, recognizing the rate at which pre-orders are coming in exceeds the current rate of production. We have absolutely need to work to sort of have supply, so to speak, catch up with demand. So, we do plan to have the existing pre-orders make those deliveries by 2023 but it will -- if you place a pre-order today and if you're delivered in that order, it wouldn't be until 2023 for that delivery.

是的，所以我們一直在努力提高產量，認識到預訂的速度超過了當前的生產速度。我們絕對需要努力實現供應，可以這麼說，趕上需求。因此，我們確實計劃在 2023 年之前讓現有的預購訂單進行交付，但它會——如果您今天下訂單並且按照該訂單交付，那麼該交付要到 2023 年.

Thanks RJ.

謝謝 RJ。

Thank you. Our next question comes from the line of Rob Saltzman, Wolfe Research. Your question, please?

謝謝你。我們的下一個問題來自 Wolfe Research 的 Rob Saltzman。請問你的問題？

Hi everybody. Congrats on what you accomplished and the response to the first product. I was -- wanted to ask you a little bit more about production first of all, obviously a lot is coming together. Where are the biggest bottleneck at this point in the ramp? Where are you focusing operationally? Can you give us some sense of where your daily production rate is now and what you expect to exit the year out?

大家好。恭喜您取得的成就以及對第一個產品的響應。我是 - 首先想問你更多關於製作的信息，顯然很多東西都在聚集在一起。坡道此時最大的瓶頸在哪裡？您的運營重點在哪裡？您能告訴我們您現在的日生產率在哪裡，以及您預計今年的產量會是多少嗎？

Ramping something like this is really -- it's almost like an orchestra. We have -- we have to simultaneously be ramping the supply chain, simultaneously train the workforce, simultaneously working through any equipment issues and equipment bring-up, and then of course working through quality loops as we said -- as I said to Adam, just given the importance of making sure what we're delivering to customers is truly achieving the quality levels that we're committed to.

像這樣的斜坡真的是——它幾乎就像一個管弦樂隊。我們有——我們必須同時增加供應鏈，同時培訓勞動力，同時解決任何設備問題和設備啟動，當然，正如我們所說的那樣，通過質量循環工作——正如我對亞當說的，只是考慮到確保我們交付給客戶的產品真正達到我們承諾的質量水平的重要性。

So as we look at that, each of those represents its own set of challenges and really the -- what makes this situation and this timeframe such unique time to launch is just the supply chain constraints and supply chain challenges.

因此，當我們看到這一點時，每一個都代表著它自己的一系列挑戰，實際上，是什麼讓這種情況和這個時間框架成為如此獨特的啟動時間只是供應鏈限制和供應鏈挑戰。

And what makes it challenging in the case of a vehicle is even -- even if you have 99.9% of the components in the vehicle ramping, so that roughly 2,000 parts that come in and go into a vehicle, if 99.9% of those have ramped at the same rate as the rest of the production, the small number of suppliers or small number of components maybe ramping a little slower, puts great constraints of bottlenecks.

就車輛而言，它具有挑戰性的是——即使你有 99.9% 的車輛部件在斜坡上，所以如果其中 99.9% 的部件已經斜坡上，那麼大約有 2,000 個零件進入並進入車輛在與其他生產相同的速度下，少量供應商或少量組件可能會慢一點，對瓶頸造成很大的限制。

And so we had to respond to that. We've been very focused on making sure we not only are effectively ramping what's in our plant but also effectively ramping across all over our suppliers. With that said, those challenges had been -- they really are a focal point for us over the last two and a half, three months. And as you heard, we don't see any long-term systemic challenges associated with ramping the supply chain. A number of these issues are short-term in nature and they're solvable problems.

所以我們必須對此做出回應。我們一直非常專注於確保我們不僅有效地提高了我們工廠的產能，而且還有效地擴大了我們所有的供應商。話雖如此，在過去的兩個半月，三個月裡，這些挑戰一直是我們關注的焦點。正如你所聽到的，我們沒有看到任何與供應鏈增長相關的長期系統性挑戰。其中許多問題本質上是短期的，它們是可以解決的問題。

As we look inside our facility (technical difficulty) things that we directly control in terms of ramping our equipment and working for those quality loops, one of the -- one of the areas that's been a constraint for us thus far has been building our battery modules. And in the case of the vehicles we are producing today, each battery pack has nine battery modules and each battery module has 864, 2170 cylindrical cells.

當我們查看我們的設施內部（技術難度）時，我們直接控制的東西是增加我們的設備並為這些質量循環工作，迄今為止對我們來說一直是一個限制的領域之一就是製造我們的電池模塊。而就我們今天生產的車輛而言，每個電池組有九個電池模塊，每個電池模塊有 864、2170 個圓柱形電池。

And the process on -- of assembling the modules and those modules into packs, it takes quite a bit of -- quite a bit of assembly work and it's a highly automated process. And what we've done to ensure this isn't a long-term risk is we actually have three separate lines that had been brought up. So, what we call essential like a development line that's been running for a number of years now, we then have a larger scale line of fully automated line that's producing a vast majority of what we -- what put into the road thus far.

組裝模塊和這些模塊成包的過程需要相當多的組裝工作，這是一個高度自動化的過程。我們為確保這不是長期風險所做的工作是，我們實際上已經提出了三個獨立的線路。因此，我們稱之為必不可少的東西，例如已經運行多年的開發線，然後我們擁有更大規模的全自動生產線，生產我們迄今為止投入使用的絕大多數產品。

And then we have what we called line two with the line -- line zero, line one and line two which is coming up as we speak and that this last line is significantly higher volume and we fortunately took the decision early last year to commission this line, recognizing we didn't want to have battery module as a long-term constraint. And we see this while this has been a constraint to this point, we do not see this as a long-term constraint, given that we've added so much capacity over the last -- over the last couple of months.

然後我們有了我們所說的第二行——第零行、第一行和第二行，正如我們所說的那樣，最後一行的音量要高得多，幸運的是，我們去年初決定委託這個行，認識到我們不希望將電池模塊作為長期限制。我們看到了這一點，雖然到目前為止這一直是一個限制因素，但我們並不認為這是一個長期限制因素，因為我們在過去幾個月中增加瞭如此多的容量。

Thanks for that. And just also related to production, as your backlog grows, you're going to get to a point where people won't get deliver until 2024, it's a great problem to have.

感謝那。而且還與生產有關，隨著積壓的增加，您將達到人們要到 2024 年才能交貨的地步，這是一個很大的問題。

Claire mentioned that you're looking at opportunities to accelerate your strategy. Are there things that you can do to maybe accelerate the ramp that you originally envisioned for the TR1 platform, just given the response to the product or are you I think Claire alluded to, inflation and looking at pricing, are you looking at opportunities to adjust pricing just based on what the demand is for the product?

克萊爾提到你正在尋找機會來加速你的戰略。您是否可以做一些事情來加速您最初為 TR1 平台設想的坡道，只是考慮到對產品的反應，或者我認為 Claire 提到過通貨膨脹和定價，您是否正在尋找調整的機會定價只是基於對產品的需求？

With regards to production, we're certainly looking at how we can accelerate the ramp, given the really strong demand that we have for the products. One of the things that we built into -- the way we design not only the plant but also the organization is we made sure that as we -- as we set things up, we're capable of exercising the discipline to ramp two lines in parallel. So, we have our R1 line and we also have our commercial vehicle line.

在生產方面，鑑於我們對產品的需求非常強勁，我們當然正在研究如何加快產量。我們建立的其中一件事——我們不僅設計工廠而且設計組織的方式是我們確保當我們——當我們設置東西時，我們能夠行使紀律來增加兩條生產線平行線。所以，我們有我們的 R1 線，我們也有我們的商用車線。

And not only there are separate assembly lines but those are also separate teams that are working on those activity. And what that allows us to do is to be really intentional around how we deploy resources and that ability to be very intentional also allows us to look at increases in capacity that the plant has been for the plant here in Normal to grow capacity from 150,000 units between those two lines to 200,000 units. And it's part of the long-term plan for the plant in -- we're looking at how we can accelerate that capacity increase, leveraging the discipline teams that we built.

不僅有單獨的裝配線，而且還有從事這些活動的獨立團隊。這讓我們能夠做的是真正有意識地圍繞我們如何部署資源，這種非常有意識的能力也讓我們能夠看到工廠的產能增加，因為這裡的正常工廠的產能從 150,000 單位增長在這兩條線之間到 200,000 個單位。這是工廠長期計劃的一部分——我們正在研究如何利用我們建立的紀律團隊來加速產能增加。

Now with regards to pricing, it's certainly the backdrop of inflation that we're seeing and the very strong demand for products not just looking our product (inaudible) broadly within the electrified space has caused us to look at our pricing and really I'd say recognizing the set of product features that we've been able to put together into the vehicles.

現在關於定價，這肯定是我們所看到的通貨膨脹背景，並且對產品的非常強勁的需求不僅僅是在電氣化領域廣泛地看待我們的產品（聽不清），這導致我們關注我們的定價，我真的會比如說識別我們已經能夠整合到車輛中的一組產品功能。

And the vehicles are incredibly -- you had a chance to drive them, they're incredibly fun to drive, very capable, over 800-horsepower, 0 to 60, three seconds, great on-road, great off-road but also a great everyday vehicle. So in terms of the competitive step, we recognized they're very aggressively priced. That is something that we certainly considered and talk about quite a bit as a management team.

而且這些車輛令人難以置信——你有機會駕駛它們，它們駕駛起來非常有趣，非常有能力，超過 800 馬力，0 到 60 馬力，三秒，很棒的公路，很棒的越野，但也是很棒的日常用車。因此，就競爭步驟而言，我們認識到它們的定價非常激進。作為一個管理團隊，我們肯定會考慮並談論很多事情。

Great. Thank you.

偉大的。謝謝你。

Thank you. Our next question comes from the line of Ryan Brinkman from J.P. Morgan. Your question, please?

謝謝你。我們的下一個問題來自摩根大通的 Ryan Brinkman。請問你的問題？

Hi, thanks for taking my question. I wanted to ask about the pace of the orders you've been receiving. I think that did maybe increase in the lead up to the IPO, given the increased attention of product that was getting there for the first media review, so the R1T, et cetera, also maybe just because of the increased attention the company was getting around the IPO.

您好，感謝您提出我的問題。我想問一下你們收到訂單的速度。我認為這在 IPO 之前可能確實有所增加，因為第一次媒體審查的產品受到了越來越多的關注，所以 R1T 等等，也可能只是因為公司越來越受到關注首次公開募股。

So, it would be great to get an update what the pace of weekly orders has been looking like, if that took another big leg up after the IPO with the company's name and the news, maybe some of the market events you've done in California or elsewhere. Also, it would be interested if there's been any maybe increased inbound interest in the RCV platform from potential non-Amazon fleet customers. Thank you.

因此，如果在首次公開募股後以公司名稱和新聞（可能是您在其中所做的一些市場事件）之後又取得了很大的進展，那麼獲得每週訂單的最新情況會很棒加利福尼亞或其他地方。此外，如果潛在的非亞馬遜車隊客戶對 RCV 平台的入境興趣有所增加，它也會很感興趣。謝謝你。

Ryan, you left I mean -- I think you said it well, over the last few week we definitely had an increased attention coming through all the coverage in the media. Equally importantly would be launch of our post-mile program and getting the vehicles to the customer, having them experience those vehicles.

瑞恩，你離開了，我的意思是——我認為你說得很好，在過去的幾周里，我們肯定會通過媒體的所有報導獲得更多的關注。同樣重要的是啟動我們的里程後計劃並將車輛交付給客戶，讓他們體驗這些車輛。

Our first deliveries to -- which started out predominantly to our employees but then now happen to non-employees and end customers, they all resulted in definitely an increase in interest, demand. And what they're seeing in terms of the heat map of our demand is that it's getting more and more intense. We are seeing the demand grow in all the big market that we were always present. The intensity of demand is growing both in the major markets and then also in the greater metropolitan areas around those major markets.

我們的第一次交付——一開始主要交付給我們的員工，但現在發生在非員工和最終客戶身上，它們都導致了興趣和需求的增加。他們從我們需求的熱圖中看到的是，它變得越來越激烈。我們看到我們一直存在的所有大市場的需求都在增長。主要市場以及這些主要市場周圍的大都市地區的需求強度都在增長。

So, we are I would say more than anticipated definitely but the demand needs to be robust. On the RCV platform, we have -- as you know we have an exclusivity arrangement with Amazon in the last mile space. And Amazon being the biggest player in the last mile delivery space and having them as an anchor customer while the strategic decision that we made allows us to learn fast, allows us to scale and how to deploy a large mega fleet.

因此，我們肯定會說超出預期，但需求需要強勁。在 RCV 平台上，我們有 - 如您所知，我們在最後一英里空間與亞馬遜有獨家安排。亞馬遜是最後一英里交付領域的最大參與者，並將他們作為主要客戶，而我們做出的戰略決策使我們能夠快速學習、擴大規模以及如何部署大型大型車隊。

But outside the last mile delivery space, there is a huge market out there and we are seeing a lot of interest, inbound interest. We are actively engage the players in this space, looking at different formats or compilation that could serve the specific use cases. So, we are actually quite excited about the size of this opportunity outside the last mile [ability] space.

但是在最後一英里的交付空間之外，那裡有一個巨大的市場，我們看到了很多興趣，入境興趣。我們正在積極參與該領域的參與者，研究可以服務於特定用例的不同格式或編譯。因此，我們實際上對在最後一英里 [能力] 空間之外的機會的規模感到非常興奮。

And what is even more interesting is the FleetOS, this was fleet management platform that we are launching with first takers that will be delivered with Amazon and it's going to be present with every vehicle that we sell as a monthly recurring fee.

更有趣的是 FleetOS，這是我們與第一批用戶一起推出的車隊管理平台，它將與亞馬遜一起交付，它將與我們以每月經常性費用形式銷售的每一輛車一起提供。

It also applies to other use cases and the scalability of this fleet management platform, the flexibility, the modularity of this provides us a lot of opportunities to grow the services side of the business on the commercial side. So, that's another [unlocked] of value, long-term value that we've launched.

它也適用於其他用例，並且該車隊管理平台的可擴展性、靈活性、模塊化為我們在商業方面發展業務的服務方面提供了很多機會。所以，這是我們推出的另一個 [解鎖] 價值、長期價值。

OK, that's very encouraging. Thank you. And just lastly on me is a question on I guess battery sourcing, strategy. How would you describe the relationship with Samsung?

好的，這非常令人鼓舞。謝謝你。最後對我來說是一個關於我猜電池採購和策略的問題。您如何描述與三星的關係？

At what point does it make sense to have it maybe more custom-designed battery pack or maybe to in-source or partner with the battery company to vertically integrate manufacturing of the pack? Is there a, I don't know, unit volume threshold or maybe a date in mind by which you would like to bring batteries in-house? How are you thinking about that?

什麼時候讓更多定制設計的電池組有意義，或者可能與電池公司合作或與電池公司合作以垂直整合電池組的製造？是否有一個（我不知道）單位體積閾值或您想將電池帶入室內的日期？你是怎麼想的？

You know, Ryan, this is a great question. In fact, I think it's probably one of the most important questions in the context of electrification. And really it stems from the sheer scale of increase that we're going to need to see as an industry to produce all the batteries necessary to electrify 90 to 100 million vehicles a year and eventually in the aggregate around one and a half million cars in the planet.

你知道，瑞恩，這是一個很好的問題。事實上，我認為這可能是電氣化背景下最重要的問題之一。實際上，它源於巨大的增長規模，我們需要將其視為一個行業，以生產每年為 90 到 1 億輛汽車供電所需的所有電池，最終總共約 150 萬輛汽車。星球。

So, we thought about this, we developed the strategy that really has three, what I would call, parallel approaches and truly parallel, meaning these are not mutually exclusive. And in the first category or first element (inaudible) is sourcing and existing cell. And that's what we've done with Samsung SDI for our launched vehicles and it's a cylindrical 2170 cell, nickel content cell and we sourced that from existing capacity, capacity that already existed in the world.

因此，我們考慮了這一點，我們制定了真正具有三個的策略，我稱之為並行方法和真正的並行，這意味著它們並不相互排斥。第一個類別或第一個元素（聽不清）是採購和現有單元格。這就是我們與三星 SDI 為我們推出的車輛所做的事情，它是一個圓柱形 2170 電池，含鎳電池，我們從現有產能中採購，世界上已經存在的產能。

That type of deal we see is really being -- we don't see a lot more deals like that happening across the industry. Essentially if the demand for cells starts to climb, we need to be building new capacity and what we see is the second category or second approach again happening in parallel is the need to create capacity or co-investment capacity with cell suppliers, and we're certainly doing that. We haven't announced any of those relationships yet but for us to continue to scaling out year 2023 and beyond, that co-investment in capacity is going to be critical for us.

我們看到的這種交易確實存在——我們沒有看到整個行業發生更多這樣的交易。本質上，如果對電池的需求開始攀升，我們需要建立新的產能，我們看到第二類或第二種方法再次同時發生，即需要創造產能或與電池供應商共同投資產能，我們肯定會這樣做。我們還沒有宣布任何這些關係，但對於我們繼續擴大到 2023 年及以後的規模來說，對產能的共同投資對我們來說至關重要。

And then really the last parallel path, last arm of the strategy for us is taking an even more vertically integrated approach where we simply control the design of the cell and the sourcing of the raw materials that go into the cell.

然後實際上是最後一條平行路徑，我們戰略的最後一個分支是採用更加垂直整合的方法，我們只需控制電池的設計和進入電池的原材料的採購。

And that third approach is core to our strategy. We've been working on that for quite some time and in fact we'll be producing cells in pilot form starting late next year. And that vertical integration of the cell doesn't mean the first two categories don't remain super important, it just simply is in response to our intended growth.

第三種方法是我們戰略的核心。我們已經為此努力了很長一段時間，事實上，我們將從明年年底開始以試驗形式生產細胞。細胞的垂直整合併不意味著前兩個類別不再非常重要，它只是為了響應我們預期的增長。

And when one looks at the amount of cells we'll need as a company, all three of those approaches, meaning source capacity that was already existing in the world, newly created capacity that we co-invest in with our supplier partners and newly created capacity that we entirely invest in and control, all three of those pathways are going to be critical for us as we start to look at in the second -- into the second half of the 2020s and scaling as a business.

當我們看到我們作為一家公司需要的電池數量時，所有這三種方法，即世界上已經存在的源容量，我們與供應商合作夥伴共同投資的新創建的容量以及新創建的容量我們完全投資和控制的能力，所有這三種途徑對我們來說都將是至關重要的，因為我們開始考慮在 2020 年代後半期以及作為業務擴展的第二階段。

Very helpful. Thank you.

非常有幫助。謝謝你。

Thank you. Our next question comes from the line of John Murphy from Bank of America. Your question, please?

謝謝你。我們的下一個問題來自美國銀行的 John Murphy。請問你的問題？

Hey everybody. Just the -- a first question on the ramp of the pre-orders, there certainly a bit faster than maybe we were expecting and we thought you have to have a -- more of these trucks out on the road had really build this momentum but it's coming fast and (inaudible).

大家好。只是 - 預購坡道上的第一個問題，肯定比我們預期的要快一些，我們認為你必須擁有 - 更多這樣的卡車在路上確實建立了這種勢頭，但是它來得很快而且（聽不清）。

So, I'm just curious relative to your expectations how the pre-orders are rolling in and if you have any early read sort on the demographics and the vehicles that are certainly not being treated indirectly here but where are these buyers are coming from? Any sort of specifics around these folks because it's a lot and it's pretty quick.

所以，我只是好奇你對預訂的預期如何，以及你是否有任何關於人口統計數據和車輛的早期閱讀分類，這些車輛肯定不會在這裡受到間接處理，但這些買家來自哪裡？圍繞這些人的任何細節，因為它很多而且很快。

Yes, it's certainly exciting. The response to the vehicles has been outstanding and we're seeing a lot of over the last -- really the last couple of months is heightened awareness for the company.

是的，這當然令人興奮。對車輛的反應非常出色，我們在過去看到了很多——實際上，過去幾個月對公司的認識有所提高。

Certainly, the IPO contribute to that but a lot of it has also been in just the broad coverage that we've seen from a variety of different outlets and media sources. As I mentioned earlier, Motor Trend selection of us is their 2022 Truck of the Year and their comments and sort of excitement around the vehicle is emblematic of what we've seen from a number of different publications coupling that with just more awareness to the vehicle.

當然，首次公開募股對此做出了貢獻，但其中很多也只是我們從各種不同的渠道和媒體來源看到的廣泛報導。正如我之前提到的，我們的 Motor Trend 選擇是他們的 2022 年度卡車，他們對車輛的評論和某種興奮是我們從許多不同的出版物中看到的象徵，這些出版物與對車輛的更多認識相結合.

So, some of our drive events that we've one and then the early deliveries we're doing, we often joked every early customer turns into a sales representative for the company because there is just so much excitement for the vehicle and so much excitement for the product. With that said, we do expect that to continue.

因此，我們舉辦的一些駕駛活動，然後是我們正在做的早期交付，我們經常開玩笑說每個早期的客戶都會變成公司的銷售代表，因為對車輛有如此多的興奮和如此多的興奮為產品。話雖如此，我們確實希望這種情況繼續下去。

We expect as awareness continues to go up, that will lead to continued increase in greater demand. And to some of the earlier questions, it certainly has us focus on how do we make sure we continue to ramp production and as we talked about look for opportunities to pull ahead on our volume ramp.

我們預計，隨著意識的不斷提高，這將導致更大的需求持續增長。對於前面的一些問題，這當然讓我們專注於如何確保我們繼續增加產量，並在我們談到尋找機會推動我們的產量增加時。

And so RJ, any early read on who these folks are, are they (inaudible) stepping up into trucks or the truck buyers that are staying in trucks, I mean what's the -- what's the early read on sort of the folks that are -- they are placing these pre-orders?

所以 RJ，任何關於這些人是誰的早期讀物，他們（聽不清）是登上卡車還是留在卡車裡的卡車買家，我的意思是 - 早期讀到的那些人是什麼 - - 他們正在下這些預訂單？

Yes, absolutely. I think this has been one of the -- it sort of validated the strategy and the hypothesis that we had in terms of positioning of the R1. You know, we had always intended this vehicle to be in this white space and by definition the white space should be attracting share from a lot of the adjacent markets and segment.

是的，一點沒錯。我認為這是其中之一——它在某種程度上驗證了我們在 R1 定位方面的策略和假設。你知道，我們一直希望這輛車在這個空白區域，根據定義，空白區域應該吸引許多相鄰市場和細分市場的份額。

And you're absolutely, right, this -- what we are finding is a true validation of that hypothesis where a vast majority of our customers are coming from one, never having one electric vehicle. Two, for the R1T, we have close to 90% of customers that have never own a truck and this -- that has been one of the factors where this vehicle is attracting so many shoppers and so much of cross-buying activity that is resulting in testing the product with this.

你是絕對正確的，我們發現的是對這個假設的真正驗證，我們的絕大多數客戶來自一個，從來沒有一輛電動汽車。第二，對於 R1T，我們有近 90% 的客戶從未擁有過卡車，而這 - 這一直是這款車吸引如此多購物者以及由此產生如此多交叉購買活動的因素之一在用這個測試產品。

And I will add this is a lot due to the -- due to the coverage and the experience [had] our customer are having with the R1T. We are expecting this to actually only get even bigger once the R1S hits the market. People are able to experience that up close and personal, are able to drive in it. So, we are definitely -- it is more than we anticipated, absolutely, very encouraging. And as RJ mentioned, it has also opens up opportunities on what they could do from the quality of owning from a pricing of view. So, we're looking at all these options right now.

我要補充一下，這很大程度上是由於 - 由於我們的客戶對 R1T 的覆蓋範圍和經驗。我們預計，一旦 R1S 上市，這實際上只會變得更大。人們能夠親身體驗，能夠駕駛它。所以，我們絕對 - 這比我們預期的要多，絕對非常令人鼓舞。正如 RJ 所提到的，從定價的角度來看，它還為他們可以從擁有質量做些什麼提供了機會。所以，我們現在正在研究所有這些選項。

It's something you got really high-class problem on your hands. Just lastly on the Georgia facility, 7,500 jobs, I used a multiplier on that. You (inaudible) argue for Georgia this is going to be a 50,000 or 100,000 net incremental jobs all-in when you go through the value chain. I'm just curious as you worked out this deal with Georgia, what the terms are and Claire, I mean if you were thinking about this on a gross CapEx versus net CapEx, I mean how big a benefit is it going to be to have worked with Georgia versus what would you spend otherwise?

這是你手頭上真正的高級問題。最後，在佐治亞州的工廠，7,500 個工作崗位上，我使用了乘數。您（聽不清）為佐治亞州爭辯說，當您通過價值鏈時，這將是一個 50,000 或 100,000 個淨增量工作崗位。我很好奇你與喬治亞州達成了這筆交易，條款是什麼，克萊爾，我的意思是，如果你考慮的是總資本支出與淨資本支出，我的意思是它會有多大的好處與佐治亞州合作，否則您會花多少錢？

Sure. So relative to our original plan record as we thought about the overall class for a second facility, I would say that this is certainly an advantage position to what we had originally anticipated in terms of gross CapEx metrics that we would put out there in the market. And so we work really closely with the state of Georgia across the incentive package here.

當然。因此，相對於我們最初的計劃記錄，當我們考慮第二個設施的整體等級時，我會說這肯定是我們最初預期的優勢地位，我們將在市場上推出的總資本支出指標.因此，我們在這裡的激勵方案中與喬治亞州密切合作。

It's a very attractive one for Rivian and we're really excited about not just the incentive package but as you mentioned the true talent pool that exists within that market that we will -- we think will be really optimal as we want to scale production and build out a significant second facility ion the U.S. market.

這對 Rivian 來說是一個非常有吸引力的項目，我們不僅對激勵方案感到興奮，而且正如你提到的那樣，我們將在該市場中存在真正的人才庫——我們認為這將是真正優化的，因為我們想要擴大生產規模和在美國市場建立重要的第二個設施。

And could you quantify that all, I mean it's just -- I mean it's a good -- really good thing for Georgia, I mean they should be pitching in. I'm just curious what -- maybe relative to your base case expectations versus what you're able to work out here, if you can give us an idea of what you got on the capital side or [NPV]?

你能否量化這一切？如果你能告訴我們你在資本方面或 [NPV] 得到了什麼，你能在這裡解決什麼？

I would say we'll have more to come on that in future announcements but right now we'll just say that it certainly a great deal for Rivian and a great deal for Georgia as well.

我會說我們在未來的公告中會有更多的內容，但現在我們只會說這對 Rivian 和佐治亞州來說肯定是一件大事。

OK, great. Thank you very much.

好，很好。非常感謝。

Thank you. Our next question comes from the line of Brian Johnson for Barclays. Your question, please?

謝謝你。我們的下一個問題來自巴克萊銀行的 Brian Johnson。請問你的問題？

Yes, thank you. I just want to drill a little bit more down on the production ramp. You know, if you kind of think through you mentioned the word constraints which of course brings to mind the classic theory of constraints. Could you maybe describe in a little bit more detail where you think the key constraint is now?

是的，謝謝。我只是想在生產坡道上再深入一點。您知道，如果您仔細考慮一下，您提到了約束這個詞，這當然會讓人想起經典的約束理論。您能否更詳細地描述一下您認為現在的關鍵約束在哪裡？

You did mention perhaps the welding of the battery packs and how do investors get confident that -- the constraint can be knocked off versus their worst case something, fundamental about the design of the vehicle or the battery packs that would complicate any ramp.

您確實提到了電池組的焊接以及投資者如何確信 - 與最壞的情況相比，約束可以被取消，這對於車輛或電池組的設計至關重要，這會使任何坡道複雜化。

In the ramping up of production system like this, it's -- is as I said before a really complex orchestra. So, you have hundreds of suppliers providing thousands of parts, thousands of robots put in the production facility operating to prescribed movements and then thousands of team members assembling and working to put the vehicles together.

在這樣的製作系統的加速發展中，就像我在一個非常複雜的管弦樂隊之前所說的那樣。因此，您有數百家供應商提供數千個零件，數千台機器人被放置在生產設施中，按照規定的動作運行，然後數千名團隊成員組裝並工作將車輛組裝在一起。

So as we go through that, process we have multiple meetings throughout everyday, tracking how we're managing all those different constraint and as the lines -- each aspect to the plant whether it's stamping or body shop or paint shop or battery assembly or driving assembly or general assembly of the full vehicle, whether there's any constraints within those and how we continue to progress the hourly and daily output.

因此，當我們經歷這個過程時，我們每天都要召開多次會議，跟踪我們如何管理所有這些不同的約束和生產線——工廠的各個方面，無論是沖壓車間還是車身車間、油漆車間、電池組裝還是駕駛整車的組裝或總裝，其中是否有任何限制，以及我們如何繼續推進每小時和每天的產量。

And with that said, we're ramping largely as expected. The battery constraint is really an artifact of just bringing up a highly automated line. And as I said, that doesn't represent any long-term challenges for us. We have a second line that's coming on that will put the battery module production way out in front in terms of capacity of the other areas of the plant.

話雖如此，我們在很大程度上正如預期的那樣。電池限制實際上是建立一條高度自動化的生產線的產物。正如我所說，這對我們來說並不代表任何長期挑戰。我們正在建設第二條生產線，這將使電池模塊的生產在工廠其他區域的產能方面遙遙領先。

So as we work through these quality loops and as we work through training our workforce, this is -- this is part of the challenge and it -- I'd say we just need to recognize that the plant is designed to run at significantly higher output. And what we're seeing today in terms of output just represents the front-end of an S-curve which is typical for this type of a ramp-up.

因此，當我們通過這些質量循環並通過培訓我們的員工時，這是 - 這是挑戰的一部分，而且 - 我想說我們只需要認識到工廠的設計運行速度要高得多輸出。而我們今天在輸出方面看到的只是代表 S 曲線的前端，這對於這種類型的加速增長來說是典型的。

And just to follow up, anything in terms of having to go back to the drawing board and either the configuration of the pack, particular parts or things that would be longer cycle fixes as opposed to just ironing out the kinks and attacking bottlenecks on a daily basis that come up?

只是為了跟進，任何關於必須回到繪圖板以及包的配置、特定部件或將是更長周期修復的東西的任何事情，而不是每天解決問題和攻擊瓶頸依據是什麼？

No, we don't see any long-term systemic challenges with either the supply chain or with the way that the vehicle has been designed or the manufacturing plants has been designed.

不，我們沒有看到供應鍊或車輛的設計方式或製造工廠的設計方式存在任何長期的系統性挑戰。

OK, thanks.

好，謝謝。

Thank you. Our next question comes from the line of Mark Delaney from Goldman Sachs. Your question, please?

謝謝你。我們的下一個問題來自高盛的 Mark Delaney。請問你的問題？

Yes, good afternoon and thank you very much for taking the questions. So, I'm hoping to start on the commercial side of the business, the 201 miles of estimated range that you're seeing. It's very attractive, I think it would cover a number of route and so I'm hoping to better understand what it may take to build upon that initial 100,000 order from Amazon.

是的，下午好，非常感謝您提出問題。因此，我希望從業務的商業方面開始，即您所看到的 201 英里的估計航程。它非常有吸引力，我認為它將涵蓋許多路線，因此我希望更好地了解在亞馬遜最初的 100,000 份訂單的基礎上可能需要做些什麼。

Is it executing that -- some of the technical milestones as you seem to be doing or it would be more around having to hit a certain percentage of that order in terms of delivering vehicles before the maybe upside to that initial 100,000?

它是否正在執行——您似乎正在做的一些技術里程碑，或者在最初的 100,000 輛可能上漲之前，必須在交付車輛方面達到該訂單的一定百分比？

Yes, Mark, it's a good question. We -- as we think about the commercial space and Jiten spoke to this earlier, Amazon represents such a -- such a large customer for -- or such a large pool demand for us. And as a result, we're very focus on making sure that we deliver to their needs and they're not only the largest player within the -- within the last mile space but they're also the most rapidly electrifying. So, it's really critical that we do not [startle] them with vehicles.

是的，馬克，這是個好問題。我們——當我們考慮商業空間時，Jiten 早些時候談到了這一點，亞馬遜代表了這樣一個——如此大的客戶——或對我們如此龐大的池需求。因此，我們非常專注於確保我們滿足他們的需求，他們不僅是最後一英里空間內最大的參與者，而且他們也是最快的電氣化。因此，我們不要用車輛[驚嚇]他們，這一點非常重要。

Now saying that, the vehicle platform, the RCV platform was architect and designed, fully contemplating the vehicles beyond last mile that's in the cargo space, that's in the work space. So, there's a whole host of opportunities that exists both in large volumes but also across a very long spread out tale of commercial applications.

現在說，車輛平台，RCV 平台是架構師和設計的，充分考慮了貨物空間中的最後一英里之外的車輛，即工作空間中的車輛。因此，大量的機會存在，也存在於一個很長的商業應用故事中。

And so, for us to bring up those non-EDV versions to the vehicle is something that we are focused on and the design team and engineering teams are working towards that but we're balancing that with just managing how much complexity we're introducing into the plan and wanting to do that at the right rate and at the right time.

因此，對於我們來說，將這些非 EDV 版本引入車輛是我們關注的事情，設計團隊和工程團隊正在努力實現這一目標，但我們正在平衡這一點，僅管理我們引入的複雜性進入計劃並希望在正確的時間以正確的速度執行此操作。

As you heard, we talked about earlier over the course of the next quarter, we'll be ramping up not just R1T, R1S and the EDV 7000 but we're introducing the EDV 500 which is a narrower and shorter variant of the EDV van. Adding additional grants on top of that will come but we're balancing the desire to minimize complexity while we're ramping up production.

正如您所聽到的，我們在下個季度早些時候談到過，我們將不僅增加 R1T、R1S 和 EDV 7000，而且我們將推出 EDV 500，它是 EDV 貨車的更窄和更短的變體.除此之外，還會增加額外的撥款，但我們正在平衡在提高產量的同時盡量減少複雜性的願望。

That's helpful. And for my second question, I was hoping you could comment on the supply environment in terms of the semiconductors and other components. You know, it's been tight for a long while now and auto companies are starting to see a little bit of easing as we move to the fourth quarter, reopening some previously closed factories.

這很有幫助。對於我的第二個問題，我希望您能就半導體和其他組件的供應環境發表評論。你知道，現在已經很長時間了，隨著我們進入第四季度，汽車公司開始看到一些放鬆，重新開放了一些以前關閉的工廠。

At the same time, unfortunately we have the omicron variant that could perhaps complicate things. So, I'm just hoping you can [give] me more specific on any changes that the company maybe seeing in its supply chain environment. Thank you.

與此同時，不幸的是，我們有可能會使事情複雜化的 omicron 變體。所以，我只是希望你能[給]我更具體地了解公司可能在其供應鏈環境中看到的任何變化。謝謝你。

Yes, supply chain environment has been incredibly challenging. It's unprecedented in a number of issues that we've seen as an industry across a variety of different commodities and components. Certainly, semiconductors is one of those and we're very, very focused on that. It's -- a week doesn't go by around not speaking to heads of some of our major semiconductor suppliers.

是的，供應鏈環境極具挑戰性。在我們作為一個涉及各種不同商品和組件的行業所看到的許多問題上，這是前所未有的。當然，半導體就是其中之一，我們非常非常關注這一點。這是 - 一周不與我們一些主要半導體供應商的負責人交談。

With that said, we -- I say the element of this is sort of work in positive ways. We've taken a very transparent approach with our suppliers to both communicate to them our ramp and to be very clear in expectations and in return we also have a clear picture of what their ability to supply is and how that translates to our ramp. And we're managing that very thoughtfully and that's -- semiconductor certainly gets the most attention but I'd say that's true across the rest of the supply chain.

話雖如此，我們 - 我說這其中的要素是積極的工作。我們與供應商採取了非常透明的方法，既要向他們傳達我們的坡道，又要非常明確的期望，作為回報，我們也清楚地了解他們的供應能力是什麼，以及這如何轉化為我們的坡道。我們對此進行了深思熟慮的管理，這就是——半導體當然得到了最多的關注，但我想說這在整個供應鏈的其他部分都是如此。

And in a lot of cases, the areas where the constraints had been challenging for us over the last three-plus months had been in areas that might not be expected. These are smaller suppliers that had been unable to hire second shift or smaller suppliers that are having issues with COVID. So, we're seeing a lot of those types of challenges and bringing up our supply base with several hundred suppliers.

在很多情況下，在過去三個多月裡，限制對我們構成挑戰的領域一直是我們無法預料的領域。這些是無法僱用第二班的較小供應商或遇到 COVID 問題的較小供應商。因此，我們看到了很多此類挑戰，並通過數百家供應商建立了我們的供應基地。

We got a team that's very hands on with all these different suppliers, working with them closely in many cases, working with them in their production facilities. So, we have both very good visibility and we're working very collaboratively to make sure that they achieve the ramp.

我們的團隊與所有這些不同的供應商密切合作，在許多情況下與他們密切合作，在他們的生產設施中與他們合作。所以，我們都有很好的知名度，而且我們正在非常合作地工作，以確保他們實現坡道。

Thank you. Our next question comes from the line of Emmanuel Rosner from Deutsche Bank. Your question, please?

謝謝你。我們的下一個問題來自德意志銀行的 Emmanuel Rosner。請問你的問題？

Yes, thank you very much. My first question is around software subscription. On what timeline would you expect to start essentially seeing some of these revenues [post] on the commercial side with Amazon, is that going to be from day one and then on the consumer side? And then any sort of like initial views on the consumer side in terms of [big] rates or sort of like average subscription revenue for a vehicle?

是的謝謝你。我的第一個問題是關於軟件訂閱的。您希望在什麼時間線開始在亞馬遜的商業方面看到其中一些收入 [post]，是從第一天開始，然後是消費者方面嗎？然後就[大]費率或類似車輛的平均訂閱收入而言，消費者方面是否有任何類似的初步看法？

Yes, hi Emmanuel, so two parts for that, so on the commercial side just to confirm the FleetOS (inaudible) at launch in other words as we start deliveries to Amazon this month. Each vehicle comes with the recurring monthly subscription of FleetOS and the -- and the set of features that I included we considered them as a (inaudible) one of a feature set.

是的，您好 Emmanuel，所以分兩部分，所以在商業方面，只是為了確認 FleetOS（聽不清）在發佈時，換句話說，當我們本月開始向亞馬遜交付時。每輛車都帶有 FleetOS 的每月定期訂閱和 - 以及我所包含的一組功能，我們認為它們是（聽不清）功能集中的一個。

And as these vehicles are deployed and operational, we expect to grow their feature set by clearing more value on the TCO level for Amazon. So, that software subscription [goal] lies basically now on commercial side.

隨著這些車輛的部署和運營，我們希望通過在亞馬遜的 TCO 級別上獲得更多價值來擴展它們的功能集。因此，該軟件訂閱 [目標] 現在基本上位於商業方面。

On the consumer side, the software side or the services side of our business has different flavors. The (inaudible) flavor is membership which every vehicle owner today gets a complimentary membership for a year. And our goal is that at the end of that period, we would actually start charging our customers a monthly fee. And that would represent, again, a basket of features which will include but not be limited to charging roadside and connectivity.

在消費者方面，我們業務的軟件方面或服務方面有不同的風格。 （聽不清）的味道是會員資格，今天每個車主都可以獲得一年的免費會員資格。我們的目標是在那個時期結束時，我們實際上會開始向我們的客戶收取月費。這將再次代表一攬子功能，其中包括但不限於路邊充電和連接性。

There will be other elements into that membership offering that we are working on and curating and designing it diligently and you'll use this time, the speed this time whether members get this fee membership through [bill] the basket.

我們正在努力開發和策劃和設計該會員服務的其他元素，您將利用這段時間，這次速度，會員是否通過 [賬單] 籃子獲得此費用會員資格。

Apart from that, there are other flavors of software subscription which would be on an individual software basis or other bundles that we will put together. We expect to work on those and announce those in the coming months. But yes, it's only for (inaudible). We just started bringing delivering which comes to the fee membership period.

除此之外，還有其他類型的軟件訂閱，它們將基於單個軟件或我們將放在一起的其他捆綁包。我們預計將在未來幾個月內開展這些工作並宣布這些內容。但是，是的，它只是為了（聽不清）。我們剛剛開始在收費會員期間提供交付服務。

The only the other point that I would just add on that from the services perspective is we have seen strong uptake in regards to our insurance and financing as well for the vehicle, given the really seamless experience, keeping both [QR] transactions and delivery process in matter of minutes.

從服務的角度來看，我要補充的唯一另一點是，鑑於真正無縫的體驗，我們已經看到我們的保險和融資以及車輛的強勁吸收，同時保持 [QR] 交易和交付過程幾分鐘之內。

I've gone through it twice myself and literally less than 10 minutes and so the ease of use and simplification of that process has really shown through -- from a take rate perspective, especially on those two leading edge features that are part of that initial transaction as well.

我自己已經完成了兩次，實際上不到 10 分鐘，因此從採用率的角度來看，該過程的易用性和簡化已經真正體現出來，尤其是作為初始部分的兩個前沿功能交易也是如此。

OK, that's great color. And then my second question, coming back to the topic of ramping up production, so RJ, I understand your points around is not being structural and obviously to be expected I guess with this kind of challenge and environment.

不錯，顏色不錯然後我的第二個問題，回到提高產量的話題，所以 RJ，我理解你的觀點不是結構性的，顯然在這種挑戰和環境下是可以預料的。

But based on what you've seen so far and sort of going through these issues, are you generally confident that you should -- your ramp up should be on target to be able to deliver some of the 2022 target where we see some reports, early -- a few weeks back around some of the SUV delivery timeline (inaudible) pushed out, and so overall, are you confident that your -- this is mostly the rear view mirror and going forward you're tracking in line with some of your delivery target?

但是，根據您迄今為止所看到的以及正在經歷的這些問題，您是否普遍相信您應該 - 您的增長應該達到目標，以便能夠實現我們看到一些報告的 2022 年目標，早 - 幾週前，一些 SUV 交付時間表（聽不清）被推遲了，所以總的來說，你有信心你的 - 這主要是後視鏡，並且你正在跟踪向前看你的交貨目標？

Yes, we're quite confident and the path ahead I guess is, it's worth just commenting a little bit on what the activities had been over the last three months. And I said it at the start of the call but it's important to reiterate we're launching three vehicles this year. So, we had the first R1T drive [offline] in September.

是的，我們非常有信心，我想未來的道路是，值得對過去三個月的活動進行一些評論。我在電話會議開始時就說過了，但重要的是要重申我們今年將推出三款汽車。所以，我們在 9 月有了第一個 R1T 驅動器 [離線]。

We just sold the first and delivered the first two R1S' this week, actually Claire and I is the first two customers. And we'll be making deliveries on the EDV 700 very soon here before the end of the year.

我們這周剛賣出了第一台並交付了前兩台 R1S，實際上克萊爾和我是前兩位客戶。我們將在今年年底之前很快在這裡交付 EDV 700。

And when you look at those three different launches, there's also of course following three different certifications. All three of those vehicles had been certified for sale and they're being produced on two different production line.

當您查看這三個不同的發佈時，當然還有以下三個不同的認證。所有這三輛車都已獲得銷售認證，它們是在兩條不同的生產線上生產的。

So, there's a line that's producing the R1 products, there's a line that's producing the commercial vehicle products and is we discussed before and this is such a critical element of what we're building we wanted -- we wanted to make sure the company and the organization was architected to facilitate running and operating multiple programs at the same time.

所以，有一條生產線生產 R1 產品，一條生產商用車產品，這是我們之前討論過的，這是我們想要建造的產品的關鍵要素——我們想確保公司和該組織的架構旨在促進同時運行和運營多個程序。

One of the challenges that we've seen over the last two months has been bringing up R1S on the R1T line and recognizing that because it's a shared line, we were -- we just started production of saleable units on R1T in September and then within a few weeks we were putting R1S' into the line as well. And that prove to be more challenging than we had anticipated but fortunately we managed through it and we're able to produce enough vehicles to certify the R1S and put that through the validation process.

我們在過去兩個月中看到的挑戰之一是在 R1T 生產線上推出 R1S，並認識到因為它是一條共享生產線，所以我們 - 我們剛剛在 9 月份開始在 R1T 上生產可銷售單元，然後在幾週後，我們也將 R1S' 投入生產線。事實證明，這比我們預期的更具挑戰性，但幸運的是我們成功了，我們能夠生產足夠的車輛來認證 R1S 並通過驗證過程。

And it was a decision we took and we took the decision to rapidly integrate the R1S into the line while we are still ramping R1T, given really our long-term focus and what we see as being critical, long term for our brand and for our customers of having both those products in the market as quickly as possible.

這是我們做出的決定，我們決定在我們仍在增加 R1T 的同時迅速將 R1S 整合到生產線中，考慮到我們的長期關注點以及我們認為對我們的品牌和我們的品牌和我們的長期至關重要的客戶希望盡快將這兩種產品推向市場。

And so as we now look at what the ramp will look like for both R1T and RIS into next year, having done those activities this past fall and having certified both the R1T and the R1S as well as the commercial van, the EDV, it really positions us to rapidly grow through the course of 2022.

因此，當我們現在看看 R1T 和 RIS 明年的坡道會是什麼樣子時，在去年秋天完成了這些活動並認證了 R1T 和 R1S 以及商用貨車 EDV，它真的使我們能夠在 2022 年實現快速增長。

Great. Thank you.

偉大的。謝謝你。

Thank you. Our next question comes from the line of Alex Potter from Piper Sandler. Your question, please?

謝謝你。我們的下一個問題來自 Piper Sandler 的 Alex Potter。請問你的問題？

OK, thanks guys. First question is on in-house cell capacity in Georgia. You alluded in the investor letter that they will have in-house cell capacity contemplated to be co-located with that facility in Georgia. I'm just -- I'm interested is that going to be the case from day one in 2024 or is it something that you're working into the plan to eventually have in Georgia?

好的，謝謝各位。第一個問題是關於格魯吉亞的內部電池容量。您在投資者信中提到，他們將擁有內部單元容量，併計劃與佐治亞州的該設施共處一地。我只是 - 我感興趣的是從 2024 年的第一天開始就是這種情況，還是您正在製定最終在佐治亞州實施的計劃？

As we think about the Georgia site and this is one of the key considerations for us as we look at different sites around the country, this is a -- this is a platform for us to grow from. So, we'll -- as we introduce the first products there, the plant won't immediately start at 400,000 units of annualized capacity.

當我們考慮喬治亞州網站時，這是我們查看全國不同網站時的主要考慮因素之一，這是一個 - 這是我們成長的平台。所以，我們將——當我們在那裡推出第一批產品時，工廠不會立即以 400,000 單位的年產能啟動。

We'll grow to that. In much the same way we sized the site and the site selection process, we made the selection, contemplating a significant [auto] battery cell production but that will come in over phases.

我們會成長為那個。與我們確定場地大小和選址過程的方式大致相同，我們進行了選擇，考慮了重要的 [汽車] 電池生產，但這將分階段進行。

And so when we first launch the site, it will be just vehicles and then shortly thereafter, we will add our in-house cell production and that in-house cell production will grow quite dramatically over the course of the following years. And given the criticality of that from a cost structure and from a scaling point of view, it's something that we place a lot of emphasis on in selecting the site.

因此，當我們第一次啟動該站點時，它只是車輛，然後不久之後，我們將增加我們的內部電池生產，並且內部電池生產將在接下來的幾年中顯著增長。從成本結構和規模的角度來看，考慮到這一點的重要性，我們在選擇站點時非常重視這一點。

OK, great. The second question just on DC fast chargers, if I recall you were working on a target of 600 or so DC fast chargers in the network. I'm just curious to hear if your -- if that is still is the target, what the timeline is behind that and then the opportunities to accelerate maybe also regions of initial focus? Thanks.

好，很好。第二個問題只是關於直流快速充電器，如果我記得你正在研究網絡中 600 個左右的直流快速充電器的目標。我只是想知道你的 - 如果這仍然是目標，那麼背後的時間表是什麼，然後加速的機會可能也是最初關注的領域？謝謝。

Yes, absolutely. We're on track for the long term (inaudible) target of having 600 sites. We are prioritizing site and synchronizing it with locations where we are making delivery along with setting up service and support infrastructures. So, we're trying to create (inaudible) fashion and (inaudible).

是的，一點沒錯。我們正在實現擁有 600 個站點的長期（聽不清）目標。我們正在優先考慮站點並將其與我們交付的地點同步，同時建立服務和支持基礎設施。所以，我們正在努力創造（聽不清）時尚和（聽不清）。

There are multiple sites across the country that are in different stages of commissioning, both from procuring the sites, setting it up and we believe having a robust charging infrastructure is going to be critical in the adoption and also from a customer experience point of view. And we are (inaudible) to invest in that area for business and progressing.

全國有多個站點處於調試的不同階段，從採購站點到設置站點，我們相信擁有強大的充電基礎設施對於採用以及從客戶體驗的角度來看都至關重要。我們（聽不清）在該領域進行投資以促進業務和進步。

Great. Good to hear. Thanks for taking the question, guys.

偉大的。很高興聽到。謝謝你提出問題，伙計們。

Thank you. Our next question comes from the line of George Gianarikas from Baird. Your question, please?

謝謝你。我們的下一個問題來自 Baird 的 George Gianarikas。請問你的問題？

Hello, everyone. Thanks for taking my question. Sort of tangential to a previous question asked but some of your auto OEM colleagues have recently secured critical material supply chain contracts and I'm curious as to how you think about the easy materials supply chain and how much of priority you placed on making sure you have materials for the next several years as you ramp production? Thank you.

大家好。感謝您提出我的問題。與之前提出的問題有點相切，但您的一些汽車 OEM 同事最近獲得了關鍵材料供應鏈合同，我很好奇您如何看待簡單的材料供應鏈以及您對確保您的優先級有多少隨著您的產量增加，您有未來幾年的材料嗎？謝謝你。

Very similar to the comments I made before with regards to overall battery cell production. We have incredibly strong conviction around the importance of planning an integral role in the upstream supply of battery -- the battery raw materials and we built our team to really drive that.

與我之前對整體電池生產的評論非常相似。我們對規劃在電池上游供應（電池原材料）中發揮不可或缺的作用的重要性有著令人難以置信的堅定信念，我們建立了我們的團隊來真正推動這一點。

So, that's understanding deeply the mining space, understanding deeply the processing space and of course understanding deeply and designing in-house cells but then support that or leverage that I should say.

因此，這是對採礦空間的深入理解，對處理空間的深入理解，當然還有對內部單元的深入理解和設計，然後支持或利用我應該說的。

So with that said, we expect and we believe that a lot of the investments necessary to rapidly build up the upstream raw material and when I say rapidly build up I mean increasing the capacity of the upstream supply chain by a factor of 20 to 30X over the next 10 to 15 years. We believe that the end customers, in this case the OEMs, ourselves included will need to take a very active role in that and it's -- while we haven't made any announcement in the space, it's certainly something that we're very focused on.

話雖如此，我們預計並相信快速建立上游原材料所需的大量投資，當我說快速建立時，我的意思是將上游供應鏈的產能提高 20 到 30 倍以上未來 10 到 15 年。我們相信最終客戶，在這種情況下，包括我們自己在內的原始設備製造商將需要在其中發揮非常積極的作用，雖然我們尚未在該領域發布任何公告，但這肯定是我們非常關注的事情在。

Thanks.

謝謝。

Thank you. This does conclude the question-and-answer session of today's program. I would like to hand the program back to RJ for any further remarks.

謝謝你。這確實結束了今天節目的問答環節。我想將程序交還給 RJ 以作進一步說明。

Well, thank you everybody for joining the call. It was great to spend time on some questions here and provide some updates on the business. We're really excited about the path ahead and really excited to have such strong support from our investors and partners, and we look forward to future discussions. Thank you.

好的，謝謝大家加入電話會議。很高興在這里花時間解決一些問題並提供有關業務的一些更新。我們對未來的道路感到非常興奮，並且非常高興能得到我們的投資者和合作夥伴的大力支持，我們期待著未來的討論。謝謝你。

Thank you, ladies and gentlemen for your participation in today's conference. This does conclude the program. You may now disconnect. Good day.

女士們，先生們，感謝你們參加今天的會議。這確實結束了程序。您現在可以斷開連接。再會。