Deutsche Just Raised Its Price Target on Rivian (RIVN) Stock
Rivian AutomotiveRivian Automotive(US:RIVN) InvestorPlace·2024-03-09 03:26

Yesterday, Rivian (NASDAQ:RIVN) shocked Wall Street by not just unveiling the R2 midsize SUV but also the R3 and R3X midsize crossovers. The electric vehicle (EV) company also announced that it had halted construction of its 5billionmanufacturingplantinGeorgia,optingtoinitiallybuildtheR2initsexistingNormal,Illinoisfacility.Thismovewillfreeup5 billion manufacturing plant in Georgia, opting to initially build the R2 in its existing Normal, Illinois facility. This move will free up 2.25 billion in capital spending for the time being. It’s not clear when construction in Georgia will resume.“Our Georgia site remains really im ...