Rivian Automotive, Inc (NASDAQ:RIVN) saw a decline in its stock price on Monday following its announcement of 14,183 vehicle deliveries for the December quarter. This marked the second-highest quarterly delivery since the company’s first electric vehicle in the fourth quarter of 2021. In 2024, Rivian delivered a total of 51,579 EVs. Analysts adjusted their ratings for the EV company in response to these figures.
Cantor Fitzgerald analyst Andres Sheppard maintained an Overweight rating on Rivian with a price target of $13, while Truist Securities analyst Jordan Levy kept a Hold rating with a price target of $12. Sheppard noted that Rivian’s fourth-quarter delivery numbers exceeded expectations, with a production of 12,727 vehicles for the quarter. The 2024 delivery numbers fell within the company’s guidance range and were slightly above Sheppard’s estimate.
Rivian also disclosed that its joint venture with Volkswagen had increased to $5.8 billion, with Volkswagen covering 75% of the new technology platform costs through 2028. Rivian aims to launch its R2 Line with a starting price of $45,000 and production slated to begin in the first half of 2026.
Truist Securities highlighted that Rivian’s quarterly production and delivery numbers surpassed Street estimates, despite challenges faced by a supplier issue affecting the company’s Enduro motor production. With these concerns now addressed, attention will shift to Rivian’s profitability trajectory, especially leading up to the planned launch of the R2 model in 2026.
RIVN stock was down 2.13% at $16.15 at the last check on Monday. Analysts anticipate the company’s earnings release in February and await further guidance for fiscal 2025.
“Line Plans and VW JV Expansion Drive Analyst Optimism” was first published on Benzinga.com in 2025. Benzinga upholds journalistic ethics and does not offer investment advice. All rights are reserved.
