
Rivian Gains On Tesla's Robotaxi Hype, But Challenges Loom

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Rivian Automotive's stock rose 2.28% to $14.14, reflecting gains similar to Tesla's following news of Tesla's robotaxi rollout. Despite a year-to-date gain of just over 6%, Rivian is expanding its operations, including a new East Coast headquarters and a service center in Canada. The company maintains its delivery guidance of 40,000 to 46,000 vehicles for the year. However, challenges loom due to potential tariffs and policy changes that could impact EV growth and revenue streams. Additionally, CEO RJ Scaringe's recent share transfer reduces his ownership stake.
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