Rivian (RIVN) Stock Gains as CEO Teases Mystery R2 Electric Vehicle Variants
Rivian (RIVN) stock rose after CEO RJ Scaringe hinted at additional variants of the R2 electric vehicle platform, potentially including a performance edition called R2X. The R2 production has started at Rivian's Normal, Illinois facility, with customer deliveries expected to begin in June 2026.
Rivian's CEO, RJ Scaringe, revealed that the company is working on additional R2 electric vehicle variants, potentially including an R2X performance edition. Mass production of the R2 has begun at the Normal, Illinois facility, with deliveries to customers starting in June 2026. The base R2 price is $58,000, with a $45,000 variant planned for late 2027. Rivian's new Georgia facility is designed to accommodate various R2 configurations. The company projects a 53% increase in vehicle deliveries this year, with the R2 expected to boost sales and capture additional EV market share. Rivian has a Moderate Buy rating on Wall Street with a consensus price target of $18.09, suggesting 24% potential upside.
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