Ross Gerber of Gerber Kawasaki has shared his excitement about Rivian Automotive Inc.'s (NASDAQ:RIVN) R2 Crossover SUV as the automaker gears up for its Q4 earnings.

R2 Crossover In Spring

The company, in a post on the social media platform X on Tuesday, shared that the R2 would launch sometime in Spring this year and would feature a dual motor and all-wheel drive setup. The company also shared that the R2's pricing details would be shared on March 12.

Quoting the post, Gerber shared that he was "pretty excited" for the launch of the SUV. "Someone has to keep the EV torch alive," he said in the post, adding that the RJ Scaringe-led company was now "leading the way."

Rivian's R2 Testing

The R2 was recently spotted in Fairbanks, Alaska, undergoing cold-weather testing, as well as seen charging at a Tesla Inc. (NASDAQ:TSLA) Supercharger station in the city.

The R2's touted price of $45,000 could help the company drive accessibility of its vehicles in the market that is dominated by the likes of Tesla, which hasn't really introduced any all-new models and suffers from an aging lineup.

Rivian's Q3 Earnings

The company reported an EPS loss of $0.65 per share during its Q3 earnings call, lower than the Wall Street consensus of $0.72. Rivian also reported a revenue of $1.56 billion, higher than market estimates of $1.46 billion. It also reported its first-ever consolidated profit of $24 million.

Analysts, however, expect Rivian to post an over 26% YoY revenue decline to $1.28 billion, citing demand pull forward in Q3 due to the expiration of the $7,500 Federal EV Credit in September. Analysts also predict a loss of $0.67 per share.

According to Benzinga Edge Rankings, Rivian scores well on Momentum and has a favorable price trend in the Long term.

Price Action: RIVN surged 1.84% to $14.96 at market close on Tuesday, surging 1.27% further to $15.15 during the overnight session.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Photo by Michael Berlfein via Shutterstock

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