Rivian Automotive Inc. (NASDAQ:RIVN) shares surged 2.93% to $15.12 after hours on Wednesday. The same day an Environmental Protection Agency certification for the electric automaker’s upcoming R2 mid-size electric SUV was found posted on a popular online community for Rivian owners and enthusiasts.
R2 Range Filing Gives Rivian Fresh Boost
Rivian last month estimated that the R2 Performance would deliver about 330 miles of range, but the newly shared EPA certification filing on Rivian Forums suggests the electric SUV could reach as much as 335 miles. The filing also points to an updated heat pump, which should help the vehicle manage battery temperature more efficiently and squeeze out a bit more range.
At $57,990, the R2 Performance goes straight after the Tesla Inc. (NASDAQ:TSLA) Model Y in the performance electric SUV segment. If the 335-mile figure holds, Rivian would give the R2 roughly a 30-mile edge over the Model Y Performance, strengthening its case against the category’s longtime benchmark.
As per an Investing.com report on Monday, Baird reiterated …
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