Toyota recalls 31,000 RAV4 plug-in hybrids that may shut down at high speeds

Impact · against what's priced in

The Toyota recall is a minor negative catalyst due to the small volume of vehicles affected and the low cost of software remedies. Rivian news is not material as the R2 showcase confirms existing expectations for the model's rollout.

RIVN+0.00

Already priced in

The price assumes

The near-term achievement of positive gross margins on current and R2 vehicles by late 2026

The showcase of the R2 SUV's features by CEO RJ Scaringe supports the current trajectory of the R2 launch, which the market already assumes is the primary driver for the company's path to positive margins.