"In July, the EV maker announced that is continuing work on its Georgia plant, which is slated to open in 2028. Earlier in July, Rivian announced a partnership with Google Maps on a new navigation system for its electric vehicles. Rivian will continue to offer its own customized navigation interface on the 15.6-inch center touchscreen, but the underlying data is now powered by the Automotive SDK from Google Maps instead of third-party alternatives."
"On June 2, it was reported that Rivian was eyeing a new debt deal as expected vehicle deliveries slumped. The U.S.-based EV maker announced plans to offer $1.25 billion in senior secure green notes due 2031 in a private offering. The EV maker plans to use those funds, as well as cash on hand, to redeem $1.25 billion of outstanding senior secured notes due in 2026."
Rivian shares rose modestly, with a five-session gain of 4.82%, a year-to-date increase of 13.96%, and a one-year gain of 26.78%. The company continues work on a Georgia plant scheduled to open in 2028 and partnered with Google Maps to power underlying navigation data while retaining its customized 15.6-inch touchscreen interface. Rivian announced plans to offer $1.25 billion in senior secured green notes due 2031 to redeem $1.25 billion of notes due in 2026. Full-year results showed a negative gross profit of $1.2 billion versus negative $2 billion in 2023, with record Q4 gross profits. Mizuho raised its price target to $14 with a Neutral rating, August U.S. EV sales rose 17% year-over-year, Q2 earnings are expected Aug. 5, and institutional ownership holds 54.82% of the float.
Read at 24/7 Wall St.
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