Cantor Fitzgerald analyst Andres Sheppard reiterated a Neutral rating on Rivian Automotive Inc (NASDAQ: RIVN).

The analyst commented, "Rivian announced a new partnership with Uber to deploy up to 50,000 fully autonomous robotaxis exclusively on the Uber platform. As part of this agreement, Uber is expected to purchase 10,000 autonomous R2 vehicles initially, with an option to purchase up to 40,000 additional vehicles in 2030. Rivian's management is targeting initial commercial deployments to begin in 2028 in San Francisco and Miami, with later plans to scale up to 25 cities by 2031. Additionally, as part of this agreement, Uber will invest up to $1.25B (includes an initial ~$300M investment following signing, subject to regulatory approval) in Rivian (through 2031), contingent on the achievement of specified autonomy milestones. Separately, Rivian unveiled full trims and pricing for its upcoming R2 vehicles. Management is targeting to begin R2 deliveries in the springand will launch with R2 Performance with a launch package, with a starting price of $57,990. Rivian is then targeting additional premium configurations (starting at $53,990) in "late 2026," a standard configuration (starting at $48,490) in 1H27, and finally an additional R2 standard variant (starting at ~$45,000) in "late 2027.""

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Shares of Rivian Automotive Inc closed at $14.91 yesterday.