Rivian And Lordstown: Two Different EV Startup Stories
Portfolio Pulse from Upwallstreet
Rivian Automotive (RIVN) continues to grow with plans to reveal a new lower-priced R2 midsized SUV Crossover EV next year, while Lordstown Motors (RIDE) has filed for bankruptcy and is suing former partner Foxconn. Rivian's production is expected to increase, with a 2026 production forecast of 200,000 units for the new R2 model. In contrast, Lordstown's story has ended due to unmet expectations and a failed partnership.
June 27, 2023 | 1:05 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Rivian plans to reveal a new R2 midsized SUV Crossover EV in 2023 and forecasts a 2026 production of 200,000 units for the new model, indicating growth and expansion.
Rivian's plans to reveal a new R2 SUV Crossover EV and the forecasted production of 200,000 units in 2026 indicate the company's growth and expansion in the EV market. This news is likely to have a positive impact on Rivian's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Lordstown Motors has filed for bankruptcy and is suing former partner Foxconn, marking the end of the company's EV story.
Lordstown Motors' bankruptcy filing and lawsuit against former partner Foxconn indicate the company's failure to meet expectations and the end of its EV story. This news is likely to have a negative impact on Lordstown's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100