Rivian Sees 2026 Delivery Jump Driven by Rollout of Smaller, More Affordable R2 SUVs

Rivian reported better than expected earnings and revenue, and its shares jumped over 15% after the company said its new, more affordable R2 SUV would boost deliveries by about 53% in 2026. The R2, priced around $45,000 and seen as a competitor to Tesla’s Model Y, is expected to drive most of the company’s future growth as demand for electric vehicles slows. Although Rivian is still unprofitable and plans to nearly double its capital spending for expansion and new technology, investors are hopeful the R2 will help the company move from a luxury EV maker to a higher volume, mass market brand.