$Rivian Automotive (RIVN.US)$ (+11.5%) announced today it ha...

$Rivian Automotive (RIVN.US)$ (+11.5%) announced today it had reached a new pilot program to supply electric vans to $AT&T (T.US)$ . The deal is the first for Rivian after the company last month ended its exclusivity pact with 17% shareholder $Amazon (AMZN.US)$ for its delivery vans, opening the door for more customers. To date, RIVN has sold just 10K electric vans to AMZN out of 100K committed. My current RIVN 2023 estimate is 54K total delivs (R1S 22K, R1T 18K, EDV 14K)
We expect $Rivian Automotive (RIVN.US)$ to be gross margin positive in 4Q 2024, and ebitda positive by 2026. RIVN currently has $3.4B debt and $9.1B cash and is expected to show FCF of -$5B in 2024.