California-based Rivian Automotive Inc. (NASDAQ:RIVN) on Wednesday launched a limited-edition of its R1 electric vehicle called the California Dune for off-road driving through sands.
What Happened: The limited edition, the company said, is built for the extremes of the desert.
The vehicle comes in a limited-edition color, with unique wheels, sand-ready gear, and an exclusive high-contrast interior.
While the California Dune edition of the R1S SUV starts at $105,900, the limited edition R1T truck starts at $99,900. The launch of the limited edition comes a day before the company is expected to report its quarterly results.
Why It Matters: Rivian is slated to report its fourth-quarter results on Feb. 20 at 2 pm PT.
For the full year 2024, Rivian delivered 51,579 EVs, within its guidance of 50,500 to 52,000 deliveries.
In the three months through the end of December, the company delivered 14,183 vehicles, its second-highest quarterly delivery numbers since it started deliveries in 2021.
Rivian on Wednesday said that the limited edition is “only here until it’s gone.” The company, however, did not clarify how many units of the limited edition would be made.
Rivian did not immediately respond to Benzinga’s request for comment.
Price Action: Rivian stock closed down 3.5% at $13.93 on Wednesday and dropped 0.4% after-hours. The stock is up 5.1% year-to-date, according to data from Benzinga Pro.
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