Overview
- Rivian shares are up roughly 67% to 69% in 2025, reflecting renewed investor interest late in the year.
- Wedbush reiterated an Outperform rating and lifted its price target to $25, citing the 1H26 R2 debut, autonomy progress, and cost discipline, while Baird upgraded the stock to Buy.
- The R2 midsize SUV is slated for early 2026 with a starting price around $45,000, aiming to broaden Rivian’s market against rivals such as Toyota’s bZ, Tesla’s Model Y, and Honda’s Prologue.
- Third-quarter revenue rose 78% year over year to $1.56 billion on 13,201 deliveries, with management indicating a 2025 delivery outlook of 41,500 to 43,500 vehicles.
- Unit economics improved with Q3 cost of goods sold per vehicle at $96,000, and Rivian reported $7.1 billion in cash plus anticipated funding from a Volkswagen joint venture and a potential Department of Energy loan.