It is now clear: Rivian wants to be a major player in the electric vehicle market. While it is already working on the development of R2 and R3, the Irvine-based manufacturer is also preparing the launch of 5 other electric models.
Rivian is ambitious. As envisioned by Dan Ives, a renowned analyst at Wedbush, the California company is determined to become a key player in the electric vehicle market. Despite still struggling for survival, Rivian is projecting and working towards becoming a significant brand in the next decade.
In March 2024, Rivian unveiled the R2 and R3 models. These two new models are intended to increase its sales volume and profitability. Recently, the company announced a major partnership with Volkswagen. The German automaker is counting on Rivian to advance in software and new technologies.
5 New Electric Models Coming Soon to Rivian
During this event, Rivian revealed its future plans. A slide showed that 5 new electric models are in the works. There will be an additional vehicle on the Gen 2 platform, which is also used in the new R1T and R1S models. Perhaps a new generation delivery van. In addition to the R2 and R3, Rivian also plans to introduce a new model on the MSP platform. Maybe a mid-size pickup truck?
Surprisingly, the California-based startup also confirmed the arrival of 3 other affordable electric models. These may be a result of the partnership with Volkswagen. The German giant plans to increase its investment in Rivian to $5 billion. These funds will be used to create a joint venture for the development of a “new generation electric architecture.”
Stock Jumps After Volkswagen Accord Announcement
This agreement is a blessing for Rivian. According to Rivian, “Volkswagen’s global reach and expertise should help our technology reach more customers worldwide.” The partnership announcement also had a positive impact on the American company’s stock. The share price surged by 23.2% to $14.74, its highest level since February.
Wedbush analysts believe that this partnership represents “a major win” and “a breath of fresh air” for Rivian. This investment is significant for the young automaker and can help it stand out in an increasingly competitive market, providing a strong foundation for growth and financial stability.