Rivian shared its Q3 performance data showing strong momentum for its newly launched R2 SUV, which drove a 45% increase in year-over-year deliveries.
The company built 19,751 vehicles, generated $2.2 billion in revenue, and raised its annual delivery guidance floor to 67,000 EVs.
The company raised its estimate for total vehicle deliveries for the full year. While it previously expected to deliver 65.000 to 70.000 electric vehicles, it has now raised the bar to at least 67.000 units.
The path of the new R2
The R2 launched last June with a starting price of just under $60.000. A more affordable version priced at $53.990 is planned for later this year, while cheaper versions starting at $44.990 are expected in 2027.
Production numbers and financial data
Rivian built 19.751 vehicles and delivered 19.248 in the third quarter, up about 45% from the same period last year. For comparison, in the second quarter of 2026 the company had built 12.613 vehicles and delivered 12.194.
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The increase in production was largely due to the operation of a second production shift at the company's plant in Normal, Illinois, while R2 contributed significantly to the increase from the previous quarter.
For the same period, the company recorded revenue of $2,2 billion and losses of $913 million, down from $1,2 billion in the same period last year.
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