Rivian topped its own second-quarter targets, producing 12,613 vehicles and delivering 12,194 at its Normal, Illinois plant — comfortably beating a guided range of 9,000 to 11,000 deliveries. Shares jumped as much as 15%, touching their highest level since January.
The EV maker credited the beat to steady growth in its EDV commercial van and R1 truck/SUV lines, plus the first deliveries of its smaller, cheaper R2 SUV, which began reaching customers in June. On the back of the results, Rivian raised its full-year 2026 delivery guidance from a range of 62,000-67,000 vehicles to 65,000-70,000.
The R2 is central to Rivian's growth plan, positioned to compete directly with Tesla's Model Y at a lower price point than Rivian's existing lineup. Full Q2 financial results are due July 30, with investors watching whether margins hold up as the company ramps a cheaper vehicle amid ongoing EV affordability concerns.