Rivian posts record quarterly deliveries as R2 rollout lifts EV growth outlook

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Rivian record quarterly deliveries

Highlights

Rivian reports record third-quarter deliveries of 19,248 vehicles, surpassing analysts' expectations of 18,001, with production reaching 19,751 units in Normal, Illinois.
Rivian reaffirms its 2026 delivery forecast of 65,000 to 70,000 vehicles, matching analyst consensus of 66,685, and premarket shares rise 1.4% on the update.
Rivian's R2 model, launching in June, aims to expand market reach, complemented by a $1.25 billion Uber partnership for fully autonomous R2 SUVs robotaxis from 2028.

Quarterly delivery growth and production pace

As reported by Reuters, Rivian says third-quarter deliveries reach a record 19,248 vehicles in the period ended September 30, above the 18,001 vehicles analysts expect on average, according to Visible Alpha data. The company also produces 19,751 vehicles at its manufacturing facility in Normal, Illinois, during the quarter.

Rivian says quarterly production and deliveries are in line with its expectations and reaffirms its 2026 delivery forecast of 65,000 to 70,000 vehicles. Analysts on average expect the EV maker to deliver 66,685 vehicles in 2026.

Shares in the Irvine, California-based company are up about 1.4% in premarket trading following the update.

R2 expansion strategy and sector implications

The R2, for which deliveries begin in June, is viewed by analysts as central to Rivian's growth strategy because it targets a broader slice of the EV market than the company's existing consumer models. Before that launch, Rivian's lineup consists of the R1S SUV and R1T pickup truck, both positioned as premium offerings.

The rollout comes as the EV sector faces pressure from the end of federal EV tax credits, tariffs and weaker industry-wide demand in the U.S. Rivian raises its annual delivery forecast in July, citing stronger-than-expected demand for the model.

The company also signs a long-term partnership with Uber in March, under which the ride-hailing firm agrees to invest up to $1.25 billion in Rivian and start deploying fully autonomous R2 SUVs as robotaxis from 2028. Rivian is scheduled to report third-quarter financial results on October 29.

Our earlier coverage of September’s UK new car registration surge highlighted how electric vehicle demand helped lift the market to its strongest September since 2017. We noted that battery-electric models took more than a quarter of monthly registrations, but year-to-date EV penetration was still running below regulatory targets, underscoring the gap between improving demand and policy goals.

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