Share costs of the electrical automaker Rivian Automotive (NASDAQ: RIVN) have been rising Tuesday after the corporate launched second-quarter supply numbers that have been higher than anticipated. The excellent news comes on the heels of a brand new three way partnership with Volkswagen that is value as much as $5 billion for Rivian.Rivian’s inventory worth was up by as a lot as 6.5% Tuesday and was buying and selling 4.2% greater as of midday EDT.Deliveries topped Rivian’s personal expectations Rivian held an Investor Day occasion final week, the place its management mentioned the corporate would ship between 13,000 to 13,300 autos within the second quarter. As a substitute, the corporate delivered 13,790 autos, topping expectations and boosting investor optimism within the younger EV firm.Rivian’s second-quarter automobile manufacturing complete of 9,612 additionally outpaced the corporate’s estimate of between 9,100 to 9,300. The EV maker maintained its full-year manufacturing steering of 57,000 autos.Good instances maintain rolling Rivian’s share worth is up greater than 30% over the previous month after the corporate introduced a brand new three way partnership with Volkswagen simply final week. The collaboration will give Volkswagen some much-needed platform software program for its electrical autos and supply Rivian with the money it wants.Volkswagen made an preliminary $1 billion funding in Rivian, with one other $4 billion anticipated to return within the subsequent few years. The businesses mentioned the three way partnership ought to assist Rivian and Volkswagen speed up innovation and decrease Rivian’s value per automobile.Including to the entire latest excellent news, Rivian’s inventory acquired two worth goal will increase from analysts yesterday. RBC Capital raised its one-year worth goal from $11 per share to $14 per share (Rivian inventory already trades at $14.52), whereas Canaccord Genuity raised its worth goal for Rivian’s inventory from $20 per share to $30 per share.Rivian traders will get extra perception into how the corporate is doing when it studies its second-quarter monetary outcomes on Aug. 6, however shareholders have loads of excellent news to tide them over till then.Do you have to make investments $1,000 in Rivian Automotive proper now?Before you purchase inventory in Rivian Automotive, think about this:The Motley Idiot Inventory Advisor analyst workforce simply recognized what they imagine are the 10 greatest shares for traders to purchase now… and Rivian Automotive wasn’t one in all them. The ten shares that made the minimize may produce monster returns within the coming years.Take into account when Nvidia made this listing on April 15, 2005… in case you invested $1,000 on the time of our suggestion, you’d have $761,658!*Inventory Advisor offers traders with an easy-to-follow blueprint for achievement, together with steering on constructing a portfolio, common updates from analysts, and two new inventory picks every month. The Inventory Advisor service has greater than quadrupled the return of S&P 500 since 2002*.Story continuesSee the ten shares »*Inventory Advisor returns as of July 2, 2024Chris Neiger has positions in Rivian Automotive. The Motley Idiot has positions in and recommends Volkswagen Ag. The Motley Idiot has a disclosure coverage.Rivian’s Inventory Will get a Jolt Due to Q2 Deliveries was initially printed by The Motley Idiot