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Rivian Automotive (RIVN) shares are in the spotlight on Tuesday as the electric vehicle (EV) firm officially begins delivering its long-awaited R2 sports utility vehicle (SUV) to reservation holders.
The R2 launch marks RIVN’s boldest push yet into the mainstream EV market, with the model starting at roughly $45,000.
Management believes this SUV will breathe new life into Rivian stock that’s currently down about 18% versus the start of this year.
What the R2 Launch Really Means for Rivian Stock
R2 is less a new product and more a financial lifeline for Rivian Automotive.
The company has been burning cash at a significant rate, with its net loss coming in at $3.6 billion last year on about 42,247 vehicle deliveries in total. But R2 is engineered to change that math.
Rivian says it has cut the vehicle’s material costs roughly in half compared to its flagship R1S. In fact, each of the R2 trim, priced between $45,000 and $58,000, will be gross margin positive at the unit level, management has confirmed.
For 2026, the electric vehicle maker is guiding for at least 62,000 vehicle deliveries, a 47% year-over-year increase.
That ramp, if executed cleanly, would mark a significant inflection in Rivian’s cost structure — one that may drive RIVN shares higher over time.
Should You Buy RIVN Shares Today?
Rivian’s R2 targets the compact and midsize SUV segments, which, according to Cox Automotive, made up about 45% of all U.S. vehicle sales last year. So the company is really penetrating a huge addressable market.
Beyond deliveries, RIVN’s multi-billion-dollar software joint venture with Volkswagen (VWAGY) provides both validation and a recurring revenue stream that could eventually reduce dependence on vehicle margins.
In its latest reported quarter, the Nasdaq-listed firm lost $0.55 on a per-share basis, beating analysts' consensus by 13%, a sign that cost discipline has been improving even before R2 volumes kick in at full scale.
Note that Rivian shares have a history of closing July with a more than 28% gain on average, a seasonal pattern that makes it even more attractive to own in the near term.
What’s the Consensus Rating on Rivian Automotive?
What’s also worth mentioning is that Wall Street hasn’t thrown in the towel on RIVN stock.
While the consensus rating on Rivian Automotive sits at “Hold” only, the price targets go as high as $25, indicating potential upside of about 56% from here.
