Key facts
- The R2 SUV was Rivian's best-selling vehicle in the third quarter.
- Rivian raised its full-year EV delivery guidance for the second time this year.
- The company expects to deliver between 67,000 and 70,000 EVs in 2026.
- Rivian built 19,751 vehicles and delivered 19,248 in the third quarter.
- Third-quarter revenue was $2.2 billion, with a net loss of $913 million.
Rivian's R2 SUV has become the company's best-selling vehicle in the third quarter, marking a strong start for the electric vehicle. The automaker announced Thursday that it has raised its full-year delivery guidance, now expecting to ship between 67,000 and 70,000 EVs, up from its previous forecast of 65,000 to 70,000. This is the second time Rivian has increased its outlook this year, signaling a potential end to a three-year period of shipping fewer than 50,000 vehicles annually. The R2, launched in June, is a key bet for Rivian to scale production of a lower-cost SUV quickly. The company's success with the R2 suggests it is attracting new customers, even after the loss of the federal EV tax credit. Rivian reported building 19,751 vehicles and delivering 19,248 in the third quarter, a significant increase driven partly by adding a second production shift at its Illinois factory. The company generated $2.2 billion in revenue and reported a net loss of $913 million for the quarter.