Rivian Stock Jumped After Boosting Deliveries Forecast
Its deliveries were higher than the predicted range of between 9,000 and 11,000. Most importantly, the company expects that its demand will accelerate in the second half of the year, with deliveries rising to between 65,000 and 70,000.
Boosting Rivian’s growth is R2, its cheaper brand that currently starts at $54,000. It then plans to launch a cheaper variant with a retail price of $44,990 next year.
In past statements, the management has said that it can build up to 150,000 R2 vehicles in its plant in Illinois, a figure that will increase when it launches its plant in Georgia.
Rivian expects that R2 will continue growing in the US. And most importantly, the management expects to start selling it overseas in Europe for the first time ever.
