Rivian (NASDAQ:RIVN) stock is down by 50% so far this year, although updated versions of the company’s R1S and R1T EVs could be just around the corner.
According to autorevolution, which received information directly from Rivian sources, the 2025 R1T and R1S are expected to be announced on June 6. That compares to previous speculation that Rivian would launch the new vehicles this summer.
“Even though the trucks will not be there for the launch presentations, they will get quickly to customers,” said autorevolution. “Pictures taken in the outbound lot at Rivian’s plant in Normal, Illinois, show hundreds of R1S vehicles waiting for delivery.”
The pictures mentioned by autorevolution do not reveal any R1T models, hinting that deliveries of the new vehicle may begin later than R1S deliveries. The new models may also not have many significant changes, as Rivian’s main goal is to reduce costs while making the manufacturing process more efficient in a bid to achieve profitability.
RIVN Stock: Rivian Rumored to Launch New R1S, R1T Models on June 6
On Rivian Forums, a user noted that a Rivian service center employee confirmed that the new models would be unveiled next week. The employee added that the service center had already received an updated R1S for training purposes.
Meanwhile, Wall Street seems to be warming up to Rivian’s future plans. This morning, Morgan Stanley analyst Adam Jonas reiterated his $13 price target and “overweight” rating following a visit from Rivian CEO R.J. Scaringe to Morgan Stanley’s Manhattan headquarters.
“We see Rivian as uniquely positioned within autos (other than Tesla) on scaling a fully integrated software stack critical to unlocking the AI opportunity… at a market value 1/60th that of Tesla. The stock’s direction is a balance of dilution risk vs. potential strategic partner re-rate,” said Jonas.
Scaringe’s visit revealed that Rivian is confident in achieving positive gross margins by Q4, aided by a lower bill of materials (BOM) cost, regulatory credit benefits and moving production to its Normal, Illinois facility.
RIVN stock carries an average price target of $16.39 among 25 analysts with coverage of shares, implying upside of over 50%.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
