) worth up to $5 billion, RIVN stock rapidly rose to its February levels. Now at $15.67, RIVN shares nearly doubled its value from the 52-week bottom of $8.26 per share.
In Rivian’s case, this means offsetting the costly battery package. And as all surveys show, EV affordability remains the primary hurdle for EV adoption. Does that mean that Rivian’s bottom line is now more attractive?From the Volkswagen Group investment announcement, it is clear that the fruits of the equally controlled joint venture will materialize in the latter half of the decade, beyond 2025.
However, due to their size, SUVs are also fuel-guzzlers. Federal policies on fuel economy standards have inadvertently incentivized SUV manufacturing via the ‘light truck loophole.’ Rivian’s EV version cuts short that concern. Up to this point, Rivian R1S has been the best-selling EV, above $70k in Q1, and has become especially popular in California. With a 5.1% market share in US EVs, the company plans to achieve the first positive gross profit in Q4 2024, per the Q1 shareholder letter.Having recalled all 3,878 Cybertrucks due to accelerator pedal issues, followed by recalls related to detachable bed trim while driving and defective windshield wipers, Tesla has fantastically sullied its reputation in the SUV segment.
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