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Rivian boosts revenue thanks to R2 and VW partnership

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Rivian boosts revenue thanks to R2 and VW partnership

Rivian's revenue grew by 38 per cent in the third quarter of 2026 to $2.16 billion. Both the EV manufacturer's deliveries and its software and services business saw significant growth. 16 per cent of the revenue alone came from the partnership with Volkswagen. Rivian has also raised its annual forecast.

According to Rivian’s quarterly results, the US EV manufacturer produced a total of 19,751 electric vehicles in the third quarter of 2026 and delivered 19,248 units to customers. This represents an 84 per cent increase in production and a 46 per cent rise in deliveries compared to the same period last year, both setting new quarterly records for the company. A key driver of this growth is the new R2: the more compact and affordable SUV was already Rivian’s best-selling model in the third quarter, surpassing both the larger R1 models and the electric delivery vans (EDVs), primarily used by shareholder Amazon. Production of the R2 continued to ramp up at the Normal plant in Illinois, USA, thanks to a second production shift for the model also starting there.

155 billion. 55 billion of this, a 36 per cent increase. However, this segment remains loss-making on its own: the gross loss in the automotive business amounted to $80 million, down from $130 million in the same quarter of the previous year. Rivian attributes the improvement to higher deliveries, better margins per vehicle, and additional revenue from regulatory credits. At the same time, the ramp-up of the R2 is weighing on costs.


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