Electric vehicle maker Rivian (RIVN) said that it plans to launch its advanced hands-free driver assistance system in 2025, followed by its “eyes-off” system in 2026, according to CEO RJ Scaringe. The move is part of the auto industry’s trend to add more autonomous driving features. Rivian’s current vehicles are equipped with the “Rivian Autonomy Platform,” which assists drivers but still requires their attention and control.
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The company also plans to introduce more advanced systems despite the growing scrutiny of autonomous driving technology, particularly after recent issues with Tesla’s (TSLA) self-driving features. In fact, the U.S. National Highway Traffic Safety Administration opened a probe into Tesla’s vehicles following reports of accidents.
Nevertheless, Rivian remains optimistic about its future plans. Indeed, the company recently finalized a loan agreement with the U.S. Department of Energy for up to $6.6 billion to build a production facility in Georgia. Rivian’s CEO also downplayed concerns about the potential impact of President Trump’s executive orders on the EV industry, which includes ending a pro-EV policy from 2021.
Is RIVN Stock a Buy or Sell?
Overall, analysts have a Moderate Buy consensus rating on RIVN stock based on eight Buys, 12 Holds, and two Sells assigned in the past three months, as indicated by the graphic below. After a 19% decrease in its share price over the past year, the average RIVN price target of $14.43 per share implies 15.5% upside potential.
