Rivian Delivers Record 19,248 EVs as R2 SUV Drives 45% Surge

Rivian delivered 19,248 electric vehicles in the third quarter — roughly 45% more than in the same period last year and a company record, driven by the first full quarter of its more affordable R2 SUV.

The automaker built 19,751 vehicles during the quarter, it said Friday morning. Rivian did not break out how many of those deliveries were R2 SUVs, which launched in June at a starting price just under $60,000. Full third-quarter financial results are due October 29.

The R2 is the centerpiece of Rivian's bid to move beyond years of stagnant sales. The company expects to sell between 20,000 and 25,000 R2 vehicles by the end of the year, according to its own projections. If it hits that range, the R2 would become one of the fastest-selling EVs in U.S. history — second only to Tesla's Model Y. Rivian also plans to introduce cheaper R2 variants priced as low as around $45,000.

Rivian has spent the last few years stuck at around the 50,000-vehicles-sold mark annually. With the R2 in the lineup alongside its R1 vehicles and its commercial electric van, the company believes it can sell between 65,000 and 70,000 vehicles this year — its best result ever.

Capacity buildout in Normal and Georgia

Rivian currently assembles the R2 at its factory in Normal, Illinois, where it recently expanded production space to accommodate the new SUV. The company is also constructing a brand-new plant outside Atlanta, Georgia, designed to build as many as 300,000 vehicles per year in the near future, with the option to expand capacity further down the road.

The stakes are high. Rivian needs the R2 to sell well to staunch years of heavy losses, driven in part by the expensive infrastructure required to support a mass-market vehicle.

Robotaxi bet delays profitability target

Rivian has also signed a deal with Uber to produce robotaxi versions of the R2 SUV. The company sees autonomy as a large enough potential market that in March it pushed back its goal of reaching profitability, previously set for 2027, to invest more money into the technology.

The October 29 earnings report will show whether the R2's momentum is translating into margin improvement — or whether the cost of scaling a mass-market platform continues to weigh on the bottom line.