EV maker Rivian’s (RIVN) stock is trending Thursday ahead of the highly anticipated launch of its new R2 electric SUV. Rivian stock scored a buy rating from Jefferies Finacial Group, suggesting over 45% upside potential.
Rivian stock scores buy rating ahead of R2 reveal
Rivian will reveal its more affordable R2 electric SUV at 10 am PT (1 pm ET) later today at its swanky new Laguna showroom. The event will be live-streamed, and you can check back here for the full details.
Leading up to its release, Rivian has teased the new electric SUV, showing what appears to be a smaller version of its top-selling R1S.
Rivian’s CEO, RJ Scaringe, vows that the R2 keeps the “essence of the brand” in a smaller, more affordable package. Leaked info earlier this week shows the R2 will start at $47,000 with up to 330 miles range. With the anticipated $7,500 EV tax credit, the R2 starting price could potentially fall below $40,000.
Meanwhile, there’s still plenty to be revealed later today. Ahead of the official R2 debut, Rivian’s stock earned a buy rating from Jefferies with a $16 price target.
Rivian (RIVN) stock chart over the past 12 months (Source: TradingView)
With Rivian’s stock currently around $11 per share, the target suggests over 45% upside potential. Rivian shares have slipped over 47% through the first three months of 2024 following. RIVN shares hit an all-time low last month following a double analyst downgrade and plans to trim 10% of its workforce.
Rivian R2 teaser (Source: Rivian)
A substantial opportunity ahead
Although Rivian’s pace slowed in Q4 with 13,972 vehicles delivered, the EV maker anticipated it. CFO Claire McDonough said Rivian expected “a more significant gap between production and deliveries in Q4.” This was due to Amazon limiting intake during the holiday season.
Rivian reported a gross loss of $606 million in the fourth quarter, an improvement from the $1 billion loss last year. However, it was still up from (-$477 million) in Q3 and (-$412 million) in Q4.
Q3 ’22
Q4 ’22
Q1 ’23
Q2 ’23
Q3 ’23
Q4 ’23
Rivian loss per vehicle
$139,277
$124,162
$67,329
$32,594
$30,500
$43,372
Rivian loss per vehicle by quarter
Gross margins also slipped to (-46%), equaling out to a $43,372 loss on every vehicle delivered between October and December.
Although that’s still a significant loss, it’s a substantial improvement from the over $124,000 loss per vehicle in Q4 2022.
Rivian production at its Normal, Ill facility (Source: Rivian)
Rivian will introduce new engineering and supplier upgrades during the planned shutdown at its Normal, Illinois EV plant in Q2 that will “meaningfully reduce” material costs exiting 2024. The EV maker projects a “modest growth profit” by the end of the year.
Due to the upgrades, Rivian expects to deliver around 57,000 vehicles this year, about the same as last year.
Rivian R2 teaser (Source: Rivian)
Rivian believes the “opportunity ahead is substantial” as it expands the brand. Check back later today for all the details of Rivian’s new R2.
Electrek’s Take
Although there are concerns about Rivian’s dwindling cash reserve, McDonough said the company remains “confident that our cash, cash equivalents, and short-term investments can fund our operations through 2025.”
Over the long term, Rivian sees a clear path to its projected 25% gross margin target and roughly 10% free cash flow margin target.
Rivian has already established itself as an authentic luxury EV brand. The R2 will help it expand into new markets, even Europe and potentially others. A quick skim through online forums shows Rivian already has fans overseas.
The smaller electric SUV will be built at Rivian’s new $5 billion GA EV facility. Rivian’s second EV manufacturing plant is expected to begin production in 2026.
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Kempower just cut the ribbon on downtown Durham, North Carolina’s first public DC fast-charging station. The new charger is operated in partnership with National Car Charging.
The new station at 111 W. Chapel Hill Street has two plugs (CCS1 and CHAdeMO) and is near restaurants and shops. The Durham area has plenty of Level 2 chargers, but this is its first DC fast charger downtown. Until now, the closest fast charger was three miles away from downtown.
Kempower, a Finnish company with its US office and factory in Durham, doesn’t mention the number of kilowatts its DC fast charger can deliver. However, PlugShare reports that a Ford F-150 Lightning managed 171 kW yesterday.
I asked the City of Durham’s spokesperson why it’s taken this long to install a DC fast charger downtown, and they replied that the “downtown core in Durham is densely developed and there are not many locations for chargers that have the right conditions and available power infrastructure for commercially viable fast chargers.”
Durham Mayor Leonardo Williams said the charger represents another step forward for the city’s clean energy goals: “With this locally built EV fast charger in the heart of downtown, we’re not only reducing our community’s carbon footprint – we’re supporting local jobs, clean energy, and a more connected future for everyone who calls Durham home.”
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As of 2025, North Carolina had more than 306 DC fast-charging stations and 1,385 ports.
Electrek’s Take
The City of Durham’s explanation of why it’s taken this long to get a fast charger downtown is a bit of a head-scratcher for me. It must be more of an infrastructure issue, or perhaps a matter of politics or funding, because density hasn’t stopped other cities from installing fast chargers in urban areas. Kempower provided 10 fast chargers at Pier 36 in Lower Manhattan, in collaboration with Revel, in September 2024. At any rate, it’s progress for Durham worth celebrating.
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Porsche unveiled its new Cayenne EV today, and it comes with an option for something we haven’t seen out of a factory-equipped car before: inductive charging.
Over the years, we’ve heard plenty of attempts by companies to trick consumers into thinking that it’s possible to make an electric car that doesn’t need to charge.
From Toyota’s dumb “self-charging hybrid” claim, to the new fad of “range extenders”/EREVs (aka plug-in hybrids with a bigger battery), to all manner of solarvehicles, people seem to think that convincing customers that they don’t need to plug in will get them to buy an EV (or, will help them greenwash their gas-guzzling hybrids).
And now the next entry into that group has arrived: the Porsche Cayenne electric, which can indeed be driven without ever plugging in, or gassing up, or even parking in the sun.
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It does have to be parked somewhere specific though: over a pad in your garage. Because this car can be equipped to use inductive charging, right out of the factory.
Inductive charging uses magnetic fields to transfer electrical power, as opposed to conductive charging, which uses a plug. Inductive charging is how phone charging mats work, but in this case, it’s scaled up significantly in size and power.
We’ve seen a few inductive charging projects before, but they’ve always been aftermarket or experimental so far. Or, they’ve been targeted more at commercial or fleet buyers (buses, for example).
Porsche says that its inductive charging system can push 11kW of power, which is plenty for overnight home charging (on the car’s 113kWh battery). It does this at 90% efficiency – not as much as the ~95% of conductive charging, but still quite good. It also requires an extra ~33lbs of coils and wiring onboard the car, which is a significant if not massive weight gain.
To activate the system, the charging pad makes contact with the car via wide-band wireless communication to determine location, then activates when you park in just the perfect spot. The car’s screen shows guide lines to help you find the way to where you need to be – or there’s always the tennis-ball-on-a-string trick if you want to go low tech.
When we tried it out in LA, once we got the system up and running (hot tip: don’t daisy chain two extension cords if you want your inductive charging pad to work), it quickly charged at 11kW, at least according to the in-car system.
The inductive charger includes a lot of safety features to ensure nothing weird happens. Even though it only uses magnetic fields, the mat includes sensors to detect any living or metal objects nearby, it will stop (yes, this includes your cat that likes to sleep under the car, and yes, Porsche gets asked this question often). We saw this happen once in the studio demo, but it quickly turned back on after deciding everything was okay.
The Cayenne will still have its regular conductive charging ports, capable of 11kW AC or 400kW DC charge. But for those who want to forgo the plug, at least at home, the mat is an available option.
That said – pricing and availability are still TBD. The system costs €7k in Europe, plus an electrician, but we don’t know what it will cost in the US yet.
So, there’s still a chance that someone else beats Porsche to the “first” moniker – possibly Tesla, given that it seems to be close to offering an inductive charging system. But there are a lot of hurdles to ensure that the system is reliable in every type of weather and real world situation, and lots of electrical codes to follow. So, it looks like the race is on.
Electrek’s Take
I was quite interested in talking to the engineers about this system, because I hadn’t actually experienced inductive charging in an EV before.
People have been talking about this for a long time, and I used to be excited about the concept of electrified roads where cars could just drive on them and get a charge and never have to plug in.
However, after conversations over the years and experience with how easy driving and charging an EV is, I came to think that inductive charging is mostly a gimmick, and that we will likely rely on conductive charging in the long term (and especially that in-highway charging is a boondoggle that’s never going to be a good option, especially when catenary/pantograph systems exist).
That said, there are still niches and benefits to be had. In a potential fully autonomous future, we’ll need to figure out autonomous charging, and inductive charging could be a good answer for that.
In addition, some drivers do have difficulty with cables. While the NACS cable is much easier to handle than the old CCS cable, an older driver or one with mobility issues might have a hard time plugging in a car. Inductive charging could be good for them.
Or, heck, maybe someone is just lazy. Or doesn’t like cords. And doesn’t mind spending money for these marginal improvements. We can imagine there are Porsche buyers who could fit that description.
I still think the take rate will be relatively low, but it will be interesting to see real world tests of this, how buyers get along with it, and what sort of problems they manage to solve. As much as I’m a skeptic of inductive charging’s usefulness and acknowledger of its limitations, it’s nice to see new things get tried sometimes.
What do you think about Porsche’s inductive charging system? Would you prefer it to conductive charging? How much would you pay to add this option to your EV? Let us know in the comments.
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The Inster, Hyundai’s most affordable EV, is Germany’s best-selling small electric car and top overall vehicle priced under €25,000.
The Hyundai Inster is Germany’s best-selling small EV
After launching the Inster in Europe in late 2024, Hyundai’s smallest and most affordable EV quickly became one of the most popular electric cars in the region.
According to JATO Dynamics, the Hyundai Inster was the 19th most popular EV across Europe in June, outselling the Dacia Spring, Hyundai Kona, and Toyota bZ4X.
In Germany, the heart of Europe, Hyundai’s most affordable EV is making an even bigger impression. Since this summer, the Hyundai Inster is Germany’s best-selling small EV so far in 2025 and just won the Golden Steering Wheel award for best car under €25,000 ($28,900) by AUTO BILD & BILD am SONNTAG.
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Hyundai said the recognition is proof that its vehicles are resonating with buyers across Europe. The Korean automaker will continue expanding its EV lineup, from the small Inster to the three-row IONIQ 9.
Hyundai Inster EV (Source: Hyundai)
The award comes after the Inster was crowned the 2025 World Electric Vehicle at the World Car Awards ceremony in the spring, held during the New York International Auto Show.
Hyundai’s electric city car starts at just €25,000 ($28,900) in Germany. Despite its small size, the Inster delivers up to 370 km (230 miles) WLTP driving range, fast charging (10% to 80%) in 30 minutes, and a surprisingly spacious and feature-rich interior.
The Inster features dual 10.3″ driver display and infotainment screens with wireless Android Auto and Apple CarPlay as part of Hyundai’s digital cockpit.
By 2027, Hyundai plans to electrify all vehicles sold in Europe. The Inster and IONIQ 9 are now rolling out across the region, and Hyundai plans to build momentum with new EVs, including the IONIQ 3, which will go into production in Hungary in the first half of 2026.
The Hyundai Inster EV (Source: Hyundai)
In South Korea, Hyundai’s home market, the Inster is sold as the Casper Electric. The compact EV is sold in Japan, Europe, the Middle East, and parts of Asia.
Although those in the US won’t get to see the Inster or IONIQ 3, Hyundai still has one of the most affordable EVs you can get your hands on. With leases starting at just $189 per month, the Hyundai IONIQ 5 is still America’s best deal for an electric vehicle.