The Latest Breaking News from Claire McDonough

The EV manufacturer earned a $110 million gross profit at its core automotive business in the fourth quarter, a milestone achievement for CEO RJ Scaringe.

There are many reasons to be cautiously optimistic about Rivian's future. The startup said on Thursday that it turned its first quarterly profit at the end of last year. It has streamlined production and its plans to launch the affordable R2 are moving at full speed. And let’s be honest, Rivian…

Rivian surged nearly 13% last week on positive sentiment around the EV startup's R2 and R3 vehicle reveal. But cash remains a concern.

Rivian revealed its R2 platform Thursday.

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Claire McDonough said the new battery "takes thousands of dollars of costs out, additional mass out" and will be much easier to build.

Rivian’s first R2-based model will be a mid-size SUV crossover which could have a starting price of around $40,000 and a maximum retail price of $60,000, slotting right under the flagship R1S.

Rivian’s CFO teased that its next EV, the R2, will be a smaller SUV falling between $40,000 and $60,000 price range.

Rivian is ramping up R1S production with demand for the electric SUV continuing to rise.