Rivian Says It Will Drive Into Europe — R2 Reservations To Open In Future
Portfolio Pulse from Anan Ashraf
Rivian Automotive Inc (NASDAQ:RIVN) plans to enter the European market with its upcoming R2 vehicle, initially launching in the US and Canada. The R2, set for a reveal on March 7, aims to fill a market gap with a more compact and affordable option in the $45,000 to $50,000 range, targeting midsize SUVs. Rivian's current models, the R1T and R1S, are priced around $70,000. Additionally, Rivian's collaboration with Amazon has already seen electric delivery vans deployed in Europe.
February 20, 2024 | 5:37 am
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Rivian announces plans to enter the European market with its R2 vehicle, aiming to offer a more affordable midsize SUV option. The company has already initiated its presence in Europe through electric delivery vans in partnership with Amazon.
Rivian's announcement to enter the European market with the R2 vehicle, targeting a competitive price range, is likely to generate positive investor sentiment. The company's existing partnership with Amazon and the deployment of electric delivery vans in Europe further solidify its market presence and expansion strategy. These factors combined suggest a positive short-term impact on RIVN's stock price.
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