Key Stats for Rivian Stock
- 1-year price change for Rivian stock: 28%
- $RIVN Share Price as of Mar. 20: $15
- 52-Week High: $23
- $RIVN Stock Price Target: $18
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What Happened?
Rivian (RIVN) stock popped on Thursday after the EV maker announced a major deal with Uber. The two companies will partner to deploy up to 50,000 autonomous robotaxis across 25 cities in the U.S., Canada, and Europe by 2031.
Here’s the basic structure of the deal.
- Uber will invest up to $1.25 billion in Rivian through 2031.
- The first $300 million is committed right away, pending regulatory approval.
- That money converts to roughly 19.55 million Rivian shares.
- The remaining investment comes in four more tranches, each tied to specific milestones Rivian needs to hit along the way.
The first 10,000 robotaxis will be autonomous versions of Rivian’s upcoming R2 vehicle. Deployments are expected to start in San Francisco and Miami in 2028. Uber also has the option to purchase up to 40,000 additional vehicles starting in 2030.
This isn’t Rivian’s first big partnership. Late in 2024, the company signed a $5.8 billion software deal with Volkswagen. The Uber deal adds to that momentum and gives Rivian another source of capital as it prepares to launch the R2 to consumers this spring.
Uber CEO Dara Khosrowshahi said the company is backing Rivian because of the way it designs its vehicles, software, and chips as a single integrated system — a setup that Uber believes gives Rivian an edge in building a reliable robotaxi fleet.
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What the Market Is Telling Us About RIVN Stock
Morgan Stanley and Goldman Sachs saw the deal as a positive for Rivian, noting it brings in fresh capital and extends the company’s software platform into a new commercial use case.
- Goldman kept its neutral rating, while Morgan Stanley held its underweight rating.
- Wells Fargo was more skeptical, saying the deal doesn’t necessarily prove Rivian’s autonomous tech is ready.
- Canaccord Genuity was the most upbeat, calling the two companies a “robotaxi power couple” and maintaining a buy rating on Rivian stock.
The robotaxi space is heating up fast, but it’s worth noting that many companies — including Uber itself — have missed their autonomous vehicle targets in the past.
Whether Rivian stock continues to climb will depend heavily on the company’s ability to hit the milestones tied to this deal.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
