Rivian Automotive Secures Over 68,000 Reservations for R2 Model in Less Than 24 Hours
Rivian Automotive’s Impressive Reservation Numbers
Rivian Automotive, led by founder and CEO RJ Scaringe, has announced a remarkable milestone in the electric vehicle industry. The company has received an overwhelming response with over 68,000 reservations for its R2 model in less than 24 hours.
RJ Scaringe’s Excitement
Expressing his excitement, Scaringe shared on Twitter, “Overwhelmed by the wonderful response to our new vehicles: R2, R3, and R3X. We are thrilled to see this vehicle resonate so strongly with our community!” This positive reception highlights the strong demand for Rivian’s innovative electric vehicles.
Goldman Sachs’ Analysis and Outlook
Analysts at Goldman Sachs have provided a positive outlook for Rivian, particularly focusing on the R2 model. They believe that the R2’s lower cost platform will pave the way for profitability and positive cash flow, ultimately driving Rivian towards increased scale and market penetration.
- The R2’s attractive starting price of $45,000 positions it well in the market, potentially leading to higher sales volumes compared to Rivian’s full-size SUV, the R1S.
- Goldman Sachs maintains a Buy rating and a $25 price target on Rivian stock, emphasizing the company’s potential to tap into the mass market segment, which represents a significant portion of total US auto sales.
Rivian’s Future in the Electric Vehicle Market
Rivian’s R2 model is a significant step towards expanding its market presence and appealing to a wider audience. With a focus on innovation, sustainability, and customer satisfaction, Rivian is well-positioned to make a mark in the competitive electric vehicle industry.
