Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. To get this in your inbox, sign up here for free — just click TechCrunch Mobility! We are in the midst of one of my four favorite times of year — earnings season. And it’s not just that I like numbers. These required filings cut through a lot of the marketing noise presented by companies the rest of the year. They also help me assess the short- and long-term stakes the companies face. Rivian’s fourth-quarter and full-year earnings did precisely that. My takeaway: Software, and specifically its technology joint venture with Volkswagen Group, was the company’s savior in 2025. It will also buoy the company into 2026 (another $2 billion is expected from VW Group) as Rivian launches its most important product to date: the lower-cost R2 SUV. The company’s earnings also provided a progress report on its bid to lower the cost of goods sold per unit. The TL;DR is that the cogs per unit for its current portfolio is still high but dropping, meaning it’s losing less on each vehicle it sells. According to Rivian, the company’s automotive cogs per unit delivered was <head>00,900 in 2025, down from <head>10,400 in 2024. The upcoming R2, which is supposed to be considerably cheaper (both in production cost and price tag) than its flagship R1T truck and R1S SUV, will be the next big test. We’ll get some insight into the results of that later this year. The R2 is expected to go into production in the first half of the year (we’re hearing June), and based on its guidance for 2026, Rivian is confident it has the demand and the ability to ramp production. The company expects to deliver between 62,000 and 67,000 vehicles in 2026 — which could provide up to a 59% bump from last year. Rivian delivered 42,247 vehicles in 2025, which includes its two R1 consumer vehicles and the electric delivery van (EDV). The market loved that guidance, btw. Rivian stock shot up 27% in the day after it reported earnings. Techcrunch event Boston, MA | June 23, 2026 A little bird Image Credits:Bryce Durbin Over the past 18 months, I’ve noticed a divergence in how Uber and Lyft are approaching AVs. Uber is locking up AV partnerships with every player it can. Lyft is trailing behind. Turns out, I am not alone in this observation. Insiders have shared their puzzlement about why Lyft hasn’t been more aggressive on this front. They noted that Lyft is sitting on about <head>.8 billion in cash, cash equivalents, and restricted cash, and recently announced a new <head> billion share repurchase program that represents about 15% of its market cap, per CNBC. That has some wondering why Lyft did not invest in parts of the AV value chain like Uber is doing versus buying shares back. Meanwhile, these little birds also pointed to a few top executives who have departed over the past year. Aurélien Nolf left his position as VP of financial planning and analysis and investor relations to become CFO of Navan. Audrey Liu, who was an executive VP and head of rider and community safety, is now at Adobe. Ameena Gill, who was VP of safety and customer care just took a job at rival Uber. Got a tip for us? Email Kirsten Korosec at kirsten.korosec@techcrunch.com or my Signal at kkorosec.07, or email Sean O’Kane at sean.okane@techcrunch.com. Deals! Image Credits:Bryce Durbin Close followers of the mobility-crazed years, between 2015 and 2019, might recall how many lidar companies popped up during that time. Many of the dominant and buzziest ones have since shuttered, while some of the smallest players have hung on and expanded. Take Ouster, for instance. I remember way back when Ouster had this tiny little booth in the jam-packed startups area (Eureka Park) at CES. Today, the company is much bigger — thanks to scale, its 2022 merger with rival Velodyne, and its acquisition of Sense Photonics in 2021. And it doesn’t appear to be finished. The company most recently acquired Stereolabs, a company that makes vision-based perception systems for robotics and industrial applications, for a combination of $35 million and 1.8 million shares. As TechCrunch senior reporter Sean O’Kane notes in his article, the deal is the latest in a march toward consolidation among perception sensor suppliers. (Just last month, MicroVision bought the lidar assets of the buzzy-but-now-bankrupt Luminar for $33 million.) So why all the activity? It’s complicated, as they say. From my POV, the frenzy around “physical AI” has reignited interest and investment in sensor technologies, particularly cameras. Other deals that got my attention … Ever, the EV-only marketplace, raised $31 million in a Series A funding round led by Eclipse. Other backers include Ibex Investors, Lifeline Ventures, and JIMCO — the investment arm of the Saudi Arabian Jameel family (an early investor in