Rivian's $45K R2: The Make-or-Break EV for the Struggling Startup
Rivian AutomotiveRivian Automotive(US:RIVN) InvestorPlace·2024-03-14 18:05

Rivian (NASDAQ:RIVN) stock has fallen more than 40% this year and could easily slide further. It has made only about 100,000 electric vehicles so far. Though the company is based in Irvine, California, it has plans to build a 5billionproductionfacilityeastofAtlanta.TheAtlantaplantaimstoproducetheR3,acrossoverthatwowedreportersatitsunveiling.Butitwon’tbebuiltifRiviancan’tmaketheR2,alsoannouncedthismonth,ataprofit.TheR2andRIVNStockTheRivianR2isdescribedas“a5 billion production facility east of Atlanta.The Atlanta plant aims to produce the R3, a crossover that wowed reporters at its unveiling. But it won’t be built if Rivian can’t make the R2, also announced this month, at a profit. The R2 and RIVN StockThe Rivian R2 is described as “a ...