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Stock impact report

J.P.Morgan tweaks its bearish Rivian stock outlook after Uber deal [Yahoo! Finance]

Rivian Automotive, Inc. (RIVN) 
Company Research Source: Yahoo! Finance
Last week, on March 19, Rivian and Uber announced a partnership in which Uber will invest up to $1.25 billion in Rivian and deploy as many as 50,000 autonomous R2 vehicles on its ride-hailing platform. The vehicle's autonomous rides are expected to launch in San Francisco and Miami in 2028, with plans to expand to as many as 25 cities across North America and Europe by 2031. If everything goes to plan, the deal also gives the companies the option to negotiate the purchase of up to 40,000 more autonomous Rivian R2s beginning in 2030. "We couldn't be more excited about this partnership with Uber — it will help accelerate our path to level 4 autonomy to create one of the safest and most convenient autonomous platforms in the world," Rivian CEO RJ Scaringe said. And analysts at JPMorgan agree with Scaringe's excitement, saying in an analyst note over the weekend that the deal is "mostly positive." Photo by jetcityimage on Getty Images · Photo by jetcityimage on Getty Images Show less Read more
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