What's Going On With Rivian Shares Monday?

Rivian Automotive, Inc. RIVN shares are trading higher on Monday after the company opened sales of its commercial electric vans for fleets across the U.S.

The company has been trialing its commercial van with multiple large fleets across the country. These trials have helped Rivian improve its fleet management systems, setting the stage for the wider launch of sales in the U.S.

“Through existing partnerships our commercial vans have already proved incredibly successful. Amazon currently has more than 20,000 in its fleet and delivered over a billion packages from its Electric Delivery Vans in 2024 alone,” said Tom Solomon, Senior Director, Business Development, Rivian.

The Rivian commercial van is offered in two sizes, the 500 and 700, with a payload capacity of up to 2,663 lbs and a gross vehicle weight rating of up to 9,500 lbs.

What Else: Rivian is set to release earnings for its 2024 fiscal-year fourth-quarter on February 20 after the market closes. Analysts estimate a loss per share of 65 cents and revenue of $1.4 billion, per data from Benzinga Pro.

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RIVN Price Action: At the time of publication, Rivian shares are trading 3.45% higher at $12.89, according to data from Benzinga Pro.

Image: via Shutterstock