Rivian May Offer Performance Pack As Software Update For Dual Motor R1 Vehicles: Report
Portfolio Pulse from Anan Ashraf
Rivian Automotive (NASDAQ:RIVN) is considering offering its Performance Pack as a software update for all dual-motor R1 models. This upgrade, initially available only for new trucks, significantly enhances the vehicle’s power and speed. The Performance Pack, priced at $5,000, boosts horsepower and torque, improving acceleration times. Rivian's first-quarter revenue beat estimates, but its loss per share was higher than expected.
May 29, 2024 | 11:14 am
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Rivian is considering offering its Performance Pack as a software update for all dual-motor R1 models, enhancing power and speed. This could attract more customers and boost sales. However, the company's first-quarter loss per share was higher than expected, which may weigh on the stock.
The potential software update for the Performance Pack could enhance the appeal of Rivian's dual-motor R1 models, potentially boosting sales and customer satisfaction. However, the higher-than-expected loss per share in the first quarter may offset some of the positive impact on the stock price.
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