Rivian Hits Record Q3 Output as R2 Sales Begin
Rivian built 19,751 vehicles and delivered 19,248 in Q3, its first full quarter of R2 sales, with deliveries up about 45% year over year.
Rivian reported record third-quarter production and deliveries, building 19,751 vehicles and delivering 19,248. The quarter marked the first full period of sales for its new R2 SUV.
Deliveries were roughly 45% higher than the same period last year, according to the company. Rivian said it will release its full third-quarter financial results on October 29.
The R2 launched in June and currently starts just under $60,000. Rivian expects to sell between 20,000 and 25,000 R2 vehicles by the end of the year, with cheaper versions planned to cost as low as around $45,000.
The company believes it can sell between 65,000 and 70,000 vehicles this year across its R1 lineup and commercial electric van. Rivian has been stuck at around the 50,000-vehicles-sold mark in recent years.
Rivian builds the R2 at its factory in Normal, Illinois, where it recently expanded production space. It is also building a new factory outside Atlanta, Georgia, with expected capacity of up to 300,000 vehicles per year.
In other moves, Rivian signed a deal with Uber to make robotaxi versions of the R2 SUV. In March, the company pushed back its goal of reaching profitability in 2027 to invest more in autonomy. TechCrunch reported the quarterly figures.
Quick answers
How many vehicles did Rivian build and deliver in Q3?
Rivian built 19,751 vehicles and delivered 19,248 in the third quarter.
When will Rivian release its full Q3 financial results?
Rivian said it will release its full third-quarter financial results on October 29.
How much does the Rivian R2 cost?
The R2 currently starts just under $60,000, with cheaper models planned to cost as low as around $45,000.