Rivian has introduced its new Enduro drive unit, a fully integrated platform with in-house designed components, that not only enhances off-roading performance but also increases the range of its electric vehicles.
Rivian Automotive closed trading at $24.18, outperforming the S&P 500 and Nasdaq, and is expected to report positive earnings and revenue growth in its upcoming earnings report.
Rivian Automotive is expected to exceed electric vehicle delivery estimates in the third quarter, while Tesla faces obstacles, according to an analyst.
Rivian Automotive's stock soared 6% after analysts predicted strong third-quarter deliveries and highlighted the company's improving margins and solid demand for its electric vehicles.
Electric vehicle stock Rivian (NASDAQ:RIVN) received positive news from analysts, with Baird marking it as a "fresh pick" likely to beat delivery projections, resulting in a 6.5% increase in shares; additionally, reports of a lifted version of the Rivian R1T have further augmented its appeal to pickup enthusiasts.
The U.S. auto industry is expected to see a strong recovery in the third quarter, with sales volumes in September forecasted to increase by over 13% from 2022, and Q3 sales to surpass 3.9 million, a jump of more than 15% from the same timeframe last year.
Rivian's stock rises on predicted Q3 delivery success despite a slight decrease in estimates, while Fisker anticipates a significant increase in EV deliveries in the US and Europe for the fourth quarter.
Rivian experienced explosive growth in the first half of 2023 in California, with a nearly 200 percent increase in new vehicle registrations and a 156 percent growth in registrations for the second quarter alone, making it a popular alternative to Tesla among consumers.
Shares of electric truck start-up Rivian Automotive received an upgrade and reported strong delivery numbers, despite a drop in stock prices.
GM's Q3 delivery numbers show a significant increase in sales of its Cadillac Lyriq and Hummer EV, indicating progress in getting their Ultium vehicles off the ground, though overall EV sales still represent a small percentage of GM's total sales.
Summary: Rivian, an electric vehicle company, is planning to reduce manufacturing costs by up to $40,000 per vehicle in an attempt to offset its losses of more than $30,000 on each truck sold.
Rivian Automotive Inc. plans to issue $1.5 billion in convertible debt and reported preliminary third-quarter revenue, causing its stock to fall and disappointing investors.
Rivian Automotive plans to offer $1.5 billion of convertible debt to finance green projects, causing its stock to fall after a surge in the previous session.
Rivian's stock dropped 8.7% after the electric vehicle maker announced a $1.5 billion convertible bond sale and issued disappointing guidance for the third quarter.
Electric vehicle maker Rivian Automotive announces plans to raise $1.5 billion in convertible notes, causing a 19% drop in share prices, while McDonald's supplier Lamb Weston experiences a 10% jump in shares after beating analysts' expectations.
Electric vehicle maker Rivian's shares dropped nearly 23% after announcing plans to issue $1.5 billion worth of convertible green bonds to help "de-risk" the launch of its R2 sports utility vehicle, raising concerns about dilution and cash flow for the speculative business.
Vietnamese EV maker VinFast reported rising Q3 revenue, EV deliveries, and vehicle sales, but the majority of the growth was due to sales to a related company, Green and Smart Mobility.
Mercedes-Benz's electric vehicle sales in the US have risen by 284% in Q3 compared to last year, bringing their market share to nearly 15%, while Ford and GM's market share remains around 3% to 4%.
US electric vehicle (EV) sales reached over 313,000 in Q3, a nearly 50% increase from a year ago, with Tesla accounting for 50% of total sales, but its market share is decreasing; meanwhile, the overall EV market share reached 7.9%, driven by higher inventory, more product availability, and downward pricing pressure, according to Kelley Blue Book.
The 2023 Rebelle Rally marked a significant milestone for EV maker Rivian, as its all-electric R1T became the first EV to win the off-road competition, highlighting the company's use of motorsports as a proving ground and the development of features based on feedback from the rally.
Rivian Automotive's stock has dropped by 29.94% in the past month, and the company is set to announce its earnings on November 7, 2023, with projected year-over-year growth of 13.38% and an estimated revenue increase of 154.57%.
