"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."
Shares of Rivian Automotive lost 2.77% over the past five trading sessions after gaining 4.82% the five prior, bringing year-to-date gains to 13.81% and a one-year increase of 34.40%. The company is continuing work on a Georgia plant slated to open in 2028 and formed a Google Maps partnership to power navigation data while retaining a customized 15.6-inch touchscreen interface. Rivian pursued a $1.25 billion private offering of senior secured green notes due 2031 to redeem $1.25 billion of notes maturing in 2026. Full-year gross loss narrowed to $1.2 billion with record Q4 gross profits, Q2 results are expected Aug. 5, Mizuho set a $14 price target, and institutional ownership stands at 54.82% of the float.
Read at 24/7 Wall St.
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