Rivian Automotive, Inc. / De Stock Price, News & Analysis

Rivian and Ben & Jerry's have announced a groundbreaking collaboration to launch electric ice cream trucks built on the Rivian Commercial Van platform. The initiative debuts with two electric 'scoop trucks' at South by Southwest (SXSW) in Austin, Texas, showcasing a modern take on traditional ice cream trucks.

The vehicles, featuring a 161-mile range, will travel across the USA, attending events in Vermont and serving the Rivian community. This partnership aligns with Ben & Jerry's mission for positive environmental impact, leveraging Rivian's recently launched Commercial Van program that helps businesses transition away from fossil fuels.

The collaboration demonstrates Rivian's expansion into commercial fleet solutions while providing Ben & Jerry's with enhanced operational capabilities for events and catering. The electric scoop trucks represent a sustainable approach to mobile ice cream delivery, combining environmental consciousness with improved performance and reliability.

Rivian (NASDAQ: RIVN) reported strong Q4 2024 financial results, achieving a gross profit of $170 million and record revenues. The company produced 12,727 vehicles and delivered 14,183 vehicles in Q4, while full-year 2024 production reached 49,476 units with 51,579 deliveries.

Two major financial developments strengthened Rivian's position: a joint venture with Volkswagen Group worth up to $5.8 billion, and a Department of Energy loan of up to $6.6 billion for their Georgia facility. The company reduced automotive cost of goods sold by $31,000 per vehicle in Q4 2024 compared to Q4 2023.

The company's commercial van program with Amazon reached a milestone with over 1 billion packages delivered in 2024. Rivian has now opened commercial van sales to all U.S. fleet sizes. The company expects modest gross profit for 2025, with the upcoming R2 model's bill of materials projected to be approximately half that of the improved R1.

Rivian (NASDAQ: RIVN) has validated the Autel IA900 system for ADAS Camera/Sensor Calibration and Aiming on its vehicles. The approval allows the system to be used across Rivian's global network of Certified Collision Centers and Calibration Centers.

The IA900 system, introduced in 2022, is the industry's first all-in-one 4-wheel alignment and ADAS calibration unit. It features six high-resolution positioning cameras that enable quick frame and target-to-vehicle setup in about one minute, compared to traditional 45-minute mechanical setups. The system was approved after testing on Rivian R1T, R1S, RCV, and EDV models.

The approval extends to all IA900 Calibration System Packages, including IA900WAT, IA900LDWT, and IA900AST, with accompanying Rivian target packages. Rivian vehicles employ advanced driver safety systems and have consistently received the IIHS's highest safety ratings.

Rivian Automotive (NASDAQ: RIVN) has announced the opening of sales for its Rivian Commercial Van to fleets of all sizes in the US market. The vehicle, which serves as the platform for Amazon's electric delivery van (EDV), features advanced safety systems including automatic emergency braking and 360-degree visibility.

The van is available in two models: the 500 and 700, offering payloads up to 2,663 lbs and a Gross Vehicle Weight Rating up to 9,500 lbs. Rivian's proprietary software manages key functions from vehicle access to charging and acceleration, designed to optimize fleet operations and reduce ownership costs.

Amazon currently operates over 20,000 units in its fleet, having delivered more than a billion packages with these vehicles in 2024. Following successful trials with larger fleets, Rivian is now expanding availability to accommodate orders ranging from single units to thousands of vehicles.

Rivian (RIVN) has finalized a loan agreement with the U.S. Department of Energy's Loan Programs Office for up to $6.6 billion, including $6 billion in principal and $600 million in capitalized interest. The funds will support the construction of Rivian's next manufacturing facility in Stanton Springs North, Georgia.

The facility will create 7,500 new manufacturing jobs and accelerate the production of Rivian's new R2 SUV and R3 crossover models. Construction is scheduled to begin in 2026, with customer vehicle production expected in 2028. The loan will be distributed in two phases: up to $3.4 billion for phase one and up to $2.6 billion for phase two.

Located less than an hour from Atlanta, the state-of-the-art facility will employ modern construction techniques and advanced environmental management while preserving natural spaces. Rivian has already begun hiring in the region for construction and management positions.

Rivian Automotive (NASDAQ: RIVN) has announced its Q4 and full-year 2024 production and delivery figures. In Q4, the company produced 12,727 vehicles at its Normal, Illinois facility and delivered 14,183 vehicles. For the full year 2024, Rivian achieved production of 49,476 vehicles and delivered 51,579 vehicles, meeting its annual guidance range of 47,000-49,000 for production and 50,500-52,000 for deliveries.

The company reported that a previously identified shared component shortage affecting R1 and RCV platforms has been resolved and is no longer constraining production. Rivian will release its Q4 2024 financial results on February 20th after market close, followed by an audio webcast at 5:00 p.m. ET to discuss performance and business outlook.

Rivian Automotive (NASDAQ: RIVN) has received a conditional commitment from the U.S. Department of Energy for a loan of up to $6.6 billion through the Advanced Technology Vehicle Manufacturing Program. The loan would support the construction of Rivian's new facility in Georgia, aimed at producing the company's midsize R2 SUV and R3/R3X crossover vehicles. The facility is planned for 400,000 units of annual production capacity across two phases, with Phase 1 starting production in 2028. The project is expected to create 7,500 operations jobs through 2030 and 2,000 construction jobs. The loan remains subject to technical, legal, environmental, and financial conditions.

Rivian and Volkswagen Group have announced a joint venture worth up to $5.8 billion to develop next-generation electrical architecture and software technology for electric vehicles. The venture, named 'Rivian and VW Group Technology, ', will be co-led by Wassym Bensaid and Carsten Helbing, with teams initially based in Palo Alto.

The collaboration aims to support Rivian's R2 launch in early 2026 and Volkswagen's first models by 2027. Volkswagen's initial investment includes a $1 billion convertible note and $1.3 billion for IP licenses and 50% equity stake, with up to $3.5 billion additional investment tied to future milestones.

Rivian Automotive (NASDAQ: RIVN) has announced its participation in Baird's Global Industrial Conference. The company's Chief Financial Officer, Claire McDonough, will join a fireside chat session scheduled for Wednesday, November 13, 2024, at 7:55 a.m. CT. Interested parties can access a live webcast of the event through the provided link.