Rivian shares are modestly positive year-to-date and up about 6% over the past year after recent short-term volatility. The company is continuing work on a Georgia plant slated to open in 2028 and partnered with Google Maps to power navigation data via the Automotive SDK while keeping a customized 15.6-inch center touchscreen interface. Rivian plans a private offering of $1.25 billion in senior secured green notes due 2031 and will use proceeds to redeem $1.25 billion of secured notes due in 2026. Full-year gross profit improved to a negative $1.2 billion from negative $2 billion in 2023, with record Q4 gross profits. Institutional investors hold 54.82% of the float, led by Amazon.
"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."
"The company reported full-year earnings in late February, announcing a negative gross profit of $1.2 billion compared to negative $2 billion in 2023, alongside record gross profits in Q4. Rivian expects to announce Q2 earnings on Aug. 5 after the market closes. Institutional ownership remains somewhat wary of the stock, with 54.82% of its float currently held by institutions. The largest institutional holder of RIVN remains Amazon (NASDAQ:AMZN) with 158,363,834 shares."
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