Rivian deliveries hit record high as R2 rollout gains momentum

Rivian Automotive reported a record 19,248 vehicle deliveries for the third quarter, surpassing analyst expectations. The electric vehicle maker's performance was bolstered by the rollout of its R2 SUV, which is designed to appeal to a broader segment of the market.

Analysts view the R2 as crucial for Rivian's growth strategy, particularly as the electric vehicle sector faces headwinds from changes in US federal EV tax credits, tariffs, and overall weaker industry demand. Prior to the R2, Rivian's offerings were primarily premium models like the R1S SUV and R1T pickup truck.

The company produced 19,751 vehicles at its manufacturing facility in Normal, Illinois, during the quarter. Rivian also reaffirmed its 2026 delivery forecast, projecting between 65,000 and 70,000 vehicles, with analysts on average estimating 66,685 vehicles for that year.

In March, Rivian announced a partnership with Uber, which includes an investment of up to $1.25 billion and plans to deploy fully autonomous R2 SUVs as robotaxis starting in 2028. Rivian is scheduled to release its third-quarter financial results on October 29.