Rivian delivered 19,248 electric vehicles in the third quarter, its highest quarterly sales figure to date, as the launch of its more affordable R2 SUV helped increase deliveries.
The company produced 19,751 vehicles during the quarter, while deliveries increased by approximately 45% from the same period a year earlier. The third quarter was the first full quarter of R2 sales following the vehicle’s launch in June.
Rivian Records Strongest Quarterly Deliveries
Rivian did not disclose how many of the 19,248 vehicles delivered during the quarter were R2 SUVs. The company said it will provide its full third-quarter financial results on October 29.
The R2 currently starts at just under $60,000, positioning it below Rivian’s existing R1 vehicles. The company also plans to introduce lower-priced versions of the SUV, with prices expected to reach around $45,000.
Rivian is targeting sales of between 20,000 and 25,000 R2 vehicles by the end of 2026. The company expects the model to become a significant contributor to its overall vehicle volume as production expands.
R2 Central to Rivian’s Growth Plans
Rivian expects total vehicle sales of between 65,000 and 70,000 units this year if it meets its R2 targets. The forecast includes the R1 lineup and the company’s commercial electric van.
Such a result would represent Rivian’s strongest annual sales performance, following several years in which annual deliveries remained around the 50,000-vehicle level.
The company is currently producing the R2 at its manufacturing facility in Normal, Illinois. Rivian has expanded production space at the plant to accommodate the new electric SUV.
New Georgia Factory to Expand Capacity
Rivian is also developing a new manufacturing facility outside Atlanta, Georgia. The company expects the plant to eventually provide annual production capacity of up to 300,000 vehicles, with the potential to expand capacity further.
The additional manufacturing capacity is intended to support Rivian’s longer-term plans for the R2 and future models as the company moves toward higher-volume production.
The R2 is particularly important to Rivian’s efforts to improve its financial performance after several years of substantial losses and significant investment in manufacturing and other infrastructure.
Rivian Expands Autonomous Driving Plans
Rivian is also developing an autonomous driving business around the R2 platform. The company has signed an agreement with Uber to develop robotaxi versions of the electric SUV.
The automaker has increased its investment in autonomy as it evaluates the potential of robotaxis as a future business opportunity. In March, Rivian pushed back its target for reaching profitability in 2027 as it allocated additional resources to autonomous driving development.
The record third-quarter deliveries provide an early indication of the R2’s contribution to Rivian’s vehicle volumes, with the company’s upcoming financial results expected to provide more detail on sales, production and the company’s broader growth plans.
