Rivian Expands Gen 2 Driving Features; Shares Rise After Baird Upgrade

MT Newswires Live01:32

Rivian Automotive (RIVN) is expanding hands-free assisted driving features for its Gen 2 lineup.

The new Universal Hands-Free feature increases the coverage of assisted driving to 3.5 million miles of roads across the US and Canada from 135,000 miles, the company said Thursday on its website.

Rivian is also launching a digital key for Gen 2 vehicles, allowing owners to add their car key to Apple's (AAPL) iPhone and Apple Watch, Alphabet's (GOOG, GOOGL) Google Pixel, and Samsung devices.

The automaker introduced Autonomy Drive Styles, enabling drivers to choose different modes to guide how their vehicle operates on the road

Meanwhile, Baird upgraded Rivian stock to outperform from neutral and increased its price target to $25 from $14.

Rivian shares rose 7.2% in recent Thursday trading.

Price: 18.90, Change: +1.27, Percent Change: +7.18

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