Overview
- Shares have climbed roughly 67% to 69% in 2025 as investor sentiment improves late in the year.
- Wedbush reiterated an Outperform rating and lifted its price target to $25, citing the planned first‑half 2026 R2 debut, autonomy progress, cost discipline, and tariff risks.
- Rivian plans the R2 as a midsize SUV starting around $45,000, positioning it against Tesla’s Model Y, Toyota’s bZ, and Honda’s Prologue.
- Third‑quarter results showed 78% revenue growth to about $1.56 billion with 13,201 vehicles delivered, with part of the bounce linked by reporting to tax‑credit timing.
- The company reported cost improvements with cost of goods sold per vehicle at $96,000, targets breakeven gross profit in fiscal 2025, and ended Q3 with $7.1 billion in cash plus expected Volkswagen JV funds and a potential DOE loan.