Wall Street Analysts See Rivian Automotive RIVN as a Buy: Should You Invest? September 3, 2024

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The company said that these deliveries generated estimated revenue of between $0 and $1 million for the three-month period ended Sept. 30, 2021. The company has been able to finance its operations primarily through the sale of securities and from borrowing. Shares of EV-maker Tesla, the most valuable automobile company in the world, fell nearly 3% during the same period, between the debut of Rivian’s shares and close of trading on Friday. While both companies operate within the market for EVs, Rivian’s niche is all-terrain vehicles whereas Tesla’s specialty is sedans and SUVs. Ford, which has been focusing on expanding sales of EVs and has a nearly 12% stake in Rivian, saw its shares fall about 1% over the roughly three days of trading. Established automakers are launching electric versions of their pickup trucks, including Ford, the maker of the bestselling pickup in America.

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The vehicle comes with a 240 to 400-mile range depending on the battery and motor combination and individual driving styles. In regard to its capabilities, the truck can go from 0 to 60 in 3 seconds, tow up to 11,000 pounds, and wade through 3 feet of water with no problems. Visit Performance Disclosure for information about the performance numbers displayed above. Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next days. Its listing brought in nearly $12 billion for Rivian, a cash infusion the company will use to tackle that challenging problem of scaling up.

The startup wants to make as many as 1 million vehicles per year by 2030 and says it will have all three different vehicles in production by the end of this year. It plans to sell non-delivery versions of its van to other customers within the next two years. It’s even searching for a location to build a second factory in addition to the one it operates in Normal, Illinois. Until the quarterly period ended Sept. 30, 2021, the company had not produced or delivered any vehicles and thus had not generated substantial revenue. It delivered its first 11 R1Ts in September 2021, having produced a total of 12 during the quarter.

Rivian also plans to launch an electric delivery van (EDV) for business customers. It’s the sixth-largest IPO ever on a US stock exchange, according to Bloomberg, and it’s hard to imagine the company picking a better time to debut. Tesla has generated an incredible amount of interest in electric vehicles and is now one of the most highly valued companies in the world. The public markets have also been on an outrageous run over the last few years — a run that was supercharged over the last 18 months by an influx of retail traders and a boom in electric vehicle companies going public.

Delivering a vehicle to consumers was a major achievement for Rivian, but volumes are still small. You’ll see Stamping, Body, Paint, Propulsion, General Assembly and End of Line, including how our skilled, diverse and dedicated team assembles our R1T, R1S and commercial vans. Rivian Automotive (RIVN) raised $9.1 billion in an IPO on Wednesday, November 10th 2021. The R1T comes with 8 different drive modes geared for offroading, city adventures, and everything in between. Among the choices is the “Drift” mode which proactively distributes power to offset traction control and increase the “fun” factor.

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The R1S comes with a 260 to 320-mile range and can also wade through 3 feet of water. The R1S also boasts the ability to rock crawl up a 100% incline or 45-degree slope.

All The Oomph, Minus The Vroom? Electric Pickups Take Aim At American Market

Some analysts think Rivian is better positioned than its rivals, particularly because it has demonstrated it can build its product. One optional feature is a pullout kitchen with an induction stovetop and a sink, designed for cooking at campsites. It pairs adventure-oriented specs with a luxurious interior; CNN called it a “glamper’s dream truck.”

1. These vehicles are equipped with a set of advanced technology systems and are designed to accommodate consumers with active lifestyles.
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You can obtain Rivian’s investor relations material in the Investors section of our website. You can view our executive officers by visiting the Governance section of our Investor Relations website or visit the Our Company page to learn about our entire leadership team. © 2024 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.

A Lucid Air Grand Touring electric luxury car is displayed at Lucid Motors’ studio and service center in Beverly Hills, Calif., on Feb. 25. The retail giant has committed to buying 100,000 delivery vehicles from Rivian — a big deal for the fledgling automaker. It’s a lot for a company that has built only a couple of hundred vehicles and hasn’t turned a profit yet. But Rivian is hoping to echo Tesla’s vertiginous rise from automotive startup to mass-market manufacturer. At Rivian, we’re committed to showing that a successful business can also be good for the planet. That by exploring more responsibly today, we can preserve the environment for the generations that come after us.

An investment for generations to come.

Total cash and cash equivalents on the company’s balance sheet at the end of the June were $3.7 billion. Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid eur to aud historical exchange rates a high-yield dividend trap.

Rivian faces a wide range of competitors both in the broader automobile industry and in the small, but fast growing EV segment. The company expects competition in the EV market to intensify due to a greater regulatory push for alternative fuel vehicles and other factors. Rivian’s competitors include, as mentioned, Tesla and Ford, and also other traditional automakers making a big push into the EV market, such as German-based Volkswagen AG (VOW3) and General Motors Co. (GM). Rivian also faces competition from China-based EV makers like NIO Inc. (NIO) and BYD Auto, a subsidiary of BYD Co. Ford unveiled its new electric F-150 Lightning pickup outside its headquarters in Dearborn, Mich., on May 19. Ford, like other legacy automakers, plans to sell electric versions of many of its popular models.

Either way, the splashy debut is sure to draw a lot of attention to the startup and its electric vehicles. It has also provided Rivian with a crucial windfall, as it needs a lot of money to grow — and survive — in the notoriously cash-hungry automotive business. Rivian lost $994 million in the first six months of 2021 alone and has said in regulatory filings that it expects to spend another $8 billion by the end of 2023. The interior of Rivian’s trading reviews and strategies all-electric pickup truck R1T as it sits at one of the automaker’s facilities in Brooklyn, N.Y., on Nov. 9.