Rivian is hoping for a rather lucrative end to the year, with boss RJ Scaringe expressing confidence that the American EV maker will hit a key autonomous driving milestone and unlock another $250 million from Uber.

The cash forms part of Uber’s commitment to invest up to $1.25 billion in Rivian through 2031, with further funding dependent on progress in self-driving technology.

The two companies are targeting a 2028 launch for driverless R2 robotaxis, initially in a handful of cities before expanding to around 25 locations.

There’s more good news coming from Rivian’s production lines, too. Its new R2 compact SUV outsold the larger R1 models and delivery van during its first full quarter, helping the company achieve record deliveries of 19,248 vehicles.

Scaringe says production is still ramping up, with a second shift now underway and further growth expected in the final quarter. More affordable R2 versions, priced from around $45,000, are also due next year.

The financial picture isn’t entirely rosy, though. Rivian still loses money on every vehicle it sells, despite cutting manufacturing costs by more than $12,000 per vehicle during the third quarter.

Meanwhile, its Volkswagen software partnership appears to be progressing, with the first European VW model using Rivian technology on course for a 2027 launch.

For Rivian, the challenge now is turning growing demand and ambitious technology plans into something rather more profitable.