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60Rivian
$RIVN (+0,52%) and Volkswagen
$VOW (-1,62%) recently announced that they will expand the scope of their 5-billion dollar deal to 5.8 billion dollars.
The first VW models based on Rivian's software and electrical architecture are set to be launched on the market as early as 2027.
The joint venture bears the name "Rivian and VW Group Technology, LLC". -CNBC
Photo: VW
The Zero Emission Transportation Association 🇺🇸, whose members include Rivian
$RIVN (+0,52%), LG, Tesla $TSLA (+0,05%), Uber
$UBER (+0,76%), Lucid
$LCID (+2,08%) and Panasonic
$6752 (+1,29%) emphasized that production tax credits can save a significant number of jobs in states such as Ohio, Kentucky, Michigan and Georgia.
She warned that eliminating these production and excise tax credits would not only jeopardize these investments, but would also hinder job growth in the USA and would cause lasting damage.
In the third quarter 2024 recorded Rivian
$RIVN (+0,52%) recorded a loss of 39.130 USD for each vehicle delivered (compared to 32.705 USD in the second quarter of 2024).
This quarter also saw the launch of the second generation of R1 vehicles.
In the fourth quarter of 2022, the loss per vehicle still amounted to 124.000 USD.
Rivian announced that the company remains on track to achieve a positive gross profit in the fourth quarter of 2024.
Analyst updates, 14.11. 👇🏼
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- JEFFERIES raises the price target for TESLA from USD 195 to USD 300. Hold. $TSLA (+0,05%)
- WARBURG RESEARCH raises the price target for INIT from EUR 49.50 to EUR 53. Buy $INIT
- WARBURG RESEARCH raises the price target for DEUTSCHE BANK from EUR 21.10 to EUR 21.30. Buy. $DBK (+0,74%)
- DEUTSCHE BANK RESEARCH raises the price target for AUTO1 from EUR 11 to EUR 12. Buy. $AG1 (+5,89%)
- DEUTSCHE BANK RESEARCH raises the price target for SIEMENS ENERGY from EUR 43 to EUR 52. Buy. $ENR (+3,25%)
- BERENBERG raises the price target for SCOUT24 from EUR 83 to EUR 110. Buy. $G24 (-0,06%)
- GOLDMAN raises the target price for RIVIAN from USD 10 to USD 12. Neutral. $RIVN (+0,52%)
- GOLDMAN raises the price target for MOLLER-MAERSK from DKK 12000 to DKK 12300. Neutral. $MAERSK B (-3,42%)
- UBS raises the price target for CISCO from USD 55 to USD 62. Neutral. $CSCO (+0,82%)
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- WARBURG RESEARCH downgrades PORSCHE SE from Buy to Hold and lowers price target from EUR 60 to EUR 36. $PAH3 (-0,76%)
- WARBURG RESEARCH lowers the price target for EXASOL from EUR 6.30 to EUR 6. Buy. $EXL (-5,76%)
- WARBURG RESEARCH lowers the price target for BRENNTAG from EUR 75 to EUR 69. Buy. $BNR (-2,63%)
- WARBURG RESEARCH lowers the price target for INFINEON from EUR 43 to EUR 39. Buy. $IFX (+0,2%)
- DEUTSCHE BANK RESEARCH lowers the price target for VERBIO from EUR 20 to EUR 17. Hold. $VBK (-3,77%)
- DEUTSCHE BANK RESEARCH lowers the price target for JENOPTIK from EUR 45 to EUR 39. Buy. $JEN (+0%)
- DEUTSCHE BANK RESEARCH lowers the price target for ELRINGKLINGER from EUR 6 to EUR 4.50. Hold. $ZIL2 (+0,19%)
- DEUTSCHE BANK RESEARCH lowers the price target for BAYER from EUR 29 to EUR 23. Hold. $BAYN (-0,14%)
- HAUCK AUFHÄUSER IB lowers the target price for SAF-HOLLAND from EUR 30 to EUR 28. Buy. $SFQ (-0,23%)
- KEPLER CHEUVREUX lowers the target price for RWE from EUR 40 to EUR 36. Buy. $RWE (-0,87%)
- METZLER lowers the price target for JUNGHEINRICH from EUR 42 to EUR 38. Buy. $JUN3 (+1,85%)
- BARCLAYS lowers the target price for RTL from EUR 33 to EUR 26.50. Equal-Weight. $RTLL (-0,72%)
- BERENBERG downgrades VESTAS from Buy to Hold and lowers target price from DKK 180 to DKK 120. $VWS (-1,6%)
VW $VOW (-1,62%) EXPANDS $RIVN (+0,52%) PARTNERSHIP WITH $800M INVESTMENT
Volkswagen has expanded its partnership with Rivian with an additional $800M, building on their existing $5B collaboration to advance EV technology.
The joint venture now has co-CEOs, Rivian's Chief Software Officer Wassym Bensaid and VW’s Chief Technology Officer Carsten Helbing, overseeing a dedicated team of 1,000 engineers.
The focus is on integrating Rivian’s software into VW’s vehicle platforms, demonstrated by a prototype developed in just 12 weeks. Volkswagen plans to bring vehicles with this joint technology to market by 2027, with its Scout brand set to incorporate the new advancements.
The partnership also opens tech licensing opportunities to other automakers, aiming for swift innovation amid a shifting EV market and economic headwinds. This move strengthens VW's position in the U.S. while supporting Rivian’s growth with VW’s scale and capital support.
Rivian
$RIVN (+0,52%) enters into a partnership with LG to develop the R2 with 4695 battery cells.
The five-year supply agreement between Rivian and LG covers 67 gigawatt hours of 4695 cells, which is enough to power around 650,000 to 700,000 vehicles. vehicles.
$RIVN (+0,52%) | Rivian Q3 FY2024 Earnings Highlights:
🔹 Revenue: $874M (Est. $1.02B) 🔴; DOWN -35% YoY
🔹 EPS: -$1.08 (Est. -$1.09) 🟢
🔹 Cash Position: $6.74B; including $1B from a convertible note with Volkswagen
🔹 Production: 13,157 vehicles (Est. 12,624)
🔹 Deliveries: 10,018 vehicles
Guidance:
🔹 Reiterates positive gross profit target for Q4 2024, driven by regulatory credit sales and higher ASPs on premium R1 models
🔹 FY2024 Production Guidance: 47,000-49,000 vehicles
🔹 FY2024 Adjusted EBITDA Loss: $2.83B-$2.88B (revised from prior estimate of $2.7B)
🔹 Capital Expenditures: $1.2B (reaffirmed)
Key Metrics:
🔹 Gross Loss: -$392M vs. -$477M in Q3 2023
🔹 Adjusted EBITDA: -$757M vs. -$902M in Q3 2023
🔹 Capital Expenditures: $277M vs. $190M in Q3 2023
Business Highlights:
🔸 Announced a strategic joint venture with Volkswagen to advance EV tech, supported by a $5B deal
🔸 Secured multi-year battery supply with LG Energy Solution for R2 models
🔸 Launched Tri-Motor R1 configuration, targeting performance improvements
🔸 Connect+ connectivity service launched, with high customer adoption after free trial
CEO RJ Scaringe’s Commentary:
🔸 "We are making solid progress on our Gen 2 R1 cost structure and look forward to the upcoming R2 model launch, which will drive future growth. We're also preparing for increased commercial van deliveries with expanded Amazon orders for Q4."
Rivian
$RIVN (+0,52%) has just announced its quarterly figures.
The earnings per share (EPS) amounted to -0,99 USD and missed the expectations of -0,92 USD.
The turnover amounted to 874 million USD and is below expectations of 1,00 billion USD.
Earnings next week
$$BRK.A (+1,72%) (Saturday)
Amazon
$AMZN (-1,7%): By the beginning of 2025 1.000 electric delivery vans from Rivian $RIVN (+0,52%) with vision technology support for parcel collection. -Bloomberg
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