Rivian Begins R2 SUV Deliveries and Orders, Priced from $57,990
RIVN sits 36% above its 52-week low of $11.57.
Summary
Rivian has commenced deliveries and orders for its R2 SUV Performance model, with prices starting at $57,990. This marks a significant step in the commercialization of a key product for the company. This follows earlier news of a strategic partnership with Uber involving R2 robotaxis and significant investments, as well as a large DOE loan for its Georgia plant. The ramp-up of the Georgia plant, slated for late 2028, will be essential for achieving gross-margin profitability and scaling R2 production.
At the time of this announcement, RIVN was trading at $15.72 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $19.8B. The 52-week trading range was $11.57 to $22.69. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.