Rivian Automotive (RIVN 4.28%) launched two new vehicle models yesterday, and the stock is still accelerating higher Friday morning. It wasn't just about the new R2 and surprise unveiling of the future R3 models helping to drive the stock higher again today, though.As of 10:15 a.m. ET, Rivian shares were trading 7.1% higher, even after the stock jumped more than 13% yesterday.An EV sweet spotRivian is trying to fill a popular slot for consumers looking to transition to electric vehicles (EVs). It started wi ...

Electric vehicle (EV) manufacturer Rivian (NASDAQ:RIVN) will make its upcoming R2 car in Illinois. It is also pausing work on a planned manufacturing plant in Georgia.  The Georgia state government had pledged $1.5 billion in “tax incentives” for the plant, which is expected to employ 7,500 people and make 400,000 cars per year.RIVN stock rose 13% on March 7 and another 5% overnight. It opened at $13.10 per share, a market capitalization of $12.7 billion.One More ThingCEO R.J. Scaringe pulled out “one more ...

Rivian Automotive‘s shares surged 13% on Thursday following the revelation of three upcoming electric vehicles (EVs) and the announcement of over $2 billion in cost savings from halting a plant construction in Georgia.This financial maneuver and the expansion of Rivian’s EV lineup are poised to influence the company’s share performance positively. Surprising new additions to Rivian’s EV lineupCopy link to sectionThe unveiling included the anticipated R2 SUV and two unexpected crossovers, the R3 and R3X, int ...

KEY TAKEAWAYSRivian Automotive shares are rising in premarket trading Friday as it pauses construction of $5 billion Georgia factory to cut costs and says it expects savings exceeding $2.25 billion.The company will now shift production of its R2 mid-sized SUVs to its existing facility in Illinois.Rivian joins other EV makers like Ford and Tesla in facing a slowdown in EV sales and increased competition. Rivian Automotive (RIVN) shares are rising in premarket trading Friday after the electric vehicle (EV) st ...

The beginning of the year could have been more promising for the electric vehicle (EV) industry, with major players like Tesla (NASDAQ: TSLA) and Rivian (NASDAQ: RIVN) experiencing significant losses since January 1. However, there is a glimmer of hope on the horizon. Specifically, Rivian’s stock saw a notable surge of 13.42% following the announcement of its new R2 model. This model is strategically designed to target a portion of the market currently unexploited by its main US competitor, Tesla.However, o ...

For the first time in quite a while, investors were excited about the prospects for electric vehicle maker Rivian's (RIVN 13.42%) stock on Thursday. The company introduced not one, not two, but three new models, and also got a boost from a researcher's new buy recommendation on its shares. Yet Rivian is still struggling with a broad slowdown in EV sales growth, and it remains heavily unprofitable. Perhaps investors should curb their enthusiasm.New models and new analyst coverageThe three models Rivian unvei ...

It has been a good day for Rivian (NASADQ:RIVN) for a few reasons. One of the most important is a new endorsement RIVN stock received from Wall Street.Yesterday, Jefferies analyst Philippe Houchois issued a bullish $16 price target for RIVN stock and initiated a “buy” rating. As bearish sentiment toward the electric vehicle (EV) producer has been rising lately amid declining share prices, this positive take comes at an excellent time for shares. Houchois sees Rivian as “leading sustainability and environmen ...

Rivian Automotive said Thursday that it’s halting plans for a yet-to-be-constructed $5 billion plant in Georgia — the same day it launched a budget-conscious electric vehicle designed to rival Elon Musk’s Tesla.Production of its forthcoming R2 model — an electric, midsize SUV that can rev to 60 miles per hour in less than three seconds — will be diverted to the California-based automaker’s existing facility in Illinois.Rivian said the shift will allow it to start delivering the $45,000 vehicle as early as t ...

Key TakeawaysRivian introduced three new models to its electric vehicle lineup.The Rivian R2 is a mid-sized SUV, while the R3 and R3X are mid-sized crossovers.The R2 is set to be priced at about $45,000, while the R3 and R3X will be less.Rivian shares jumped 13% on Thursday, though are still down more than 40% since the start of the year. Rivian Automotive (RIVN) shares jumped 13% Thursday as the electric vehicle (EV) maker introduced three new models to go along with its RT1 truck and RS1 SUV, as well as i ...

Rivian Automotive (RIVN 13.42%) shares have plunged more than 50% year to date. Much of that stemmed from investor disappointment when the management's 2024 outlook revealed the company doesn't see any potential for production growth compared to last year.But one Wall Street firm just initiated coverage on the the electric vehicle (EV) start-up saying the stock's drop now makes Rivian a buying opportunity. Jefferies analyst Philippe Houchois started coverage of the EV maker with a buy rating and a price tar ...