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Story summary
- Rivian Automotive, Inc.'s stock has struggled since its IPO, though shares have risen 32% over the past year.
- Rivian plans to launch its R2 model, a lower-cost rival to Tesla's Model Y, to boost sales.
- Rivian has a deal with Uber Technologies, Inc. to supply 10,000 autonomous R2 models starting in 2028, contingent on achieving level 4 autonomy.
- If Rivian fails to achieve level 4 autonomy, its stock could suffer.
