Overview
- Rivian shares are up about 67% in 2025, reaching $19 on Dec. 12 for the first time since Jan. 2024.
- R1 sales fell 36% year over year in Q1 and 31% in Q2, then rose 32% in Q3 largely on buyers rushing to use a federal EV tax credit before its Sept. 30 expiration.
- Rivian plans the R2 for 2026, potentially early in the year, targeting a roughly $45,000 starting price to enter a more affordable segment.
- Baird’s Ben Kallo upgraded the stock to buy for 2026, citing expectations that the R2 will bolster the brand, demand, and the share price.
- Analysts expect the R2 to contend with Toyota’s 2026 bZ (from $34,900), Tesla’s 2026 Model Y standard ($39,990), and Honda’s 2026 Prologue ($47,400), making relative sales performance a key test.