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Rivian Rallies 8% as Tesla, Nio Stall: R2 Launch and Software Growth in Focus
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Rivian Rallies 8% as Tesla, Nio Stall: R2 Launch and Software Growth in Focus
The post Rivian Rallies 8% as Tesla, Nio Stall: R2 Launch and Software Growth in Focus appeared first on 24/7 Wall St.. Quick Read Rivian (RIVN) surged 8% to $16.42 after Q1 revenue of $1.38B beat consensus, driven by 20% YoY delivery growth to 10,365 units and R2 production launch in Illinois with 50% lower bill of materials than R1; meanwhile, shares of Tesla (TSLA) and Nio (NIO) drifted into the red. Volkswagen (VWAGY) acquired 62.9 millio…
·New York, United States
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