Rivian raises EV sales forecast on strong Q2 production and R2 launch
Rivian increased its annual delivery forecast from 62,000–67,000 to 65,000–70,000 vehicles, citing robust second-quarter output and the start of deliveries for the new R2 SUV.
Higher Guidance
Electric-vehicle maker Rivian announced Thursday that it now expects to deliver between 65,000 and 70,000 vehicles this year, up from its previous guidance of 62,000 to 67,000. The modest increase marks a meaningful improvement over last year’s total of 42,247 units.
Q2 Performance
In the second quarter, Rivian produced 12,613 vehicles and delivered 12,194, surpassing its own forecast of 9,000–11,000 deliveries. The company attributed the outperformance to “robust growth quarter-over-quarter in EDV and R1, coupled with the introduction of R2 deliveries.” EDV stands for Rivian’s electric commercial van.
R2 SUV Launch
Rivian pins high hopes on the R2 SUV, which went on sale last month starting around $58,000. The company has expanded its plant in Normal, Illinois, to build the R2 and is constructing a new factory in Georgia to produce hundreds of thousands of units annually. CFO Claire McDonough previously indicated a sales target of 20,000–25,000 R2s this year, but it is unclear whether the updated total forecast includes an increase for the R2.
Industry Headwinds
The upbeat forecast comes amid a slowdown in U.S. EV sales growth. Congress eliminated the $7,500 federal tax credit, and the Trump administration rolled back environmental regulations that encouraged EV production and adoption. Despite these challenges, Rivian expressed confidence in its trajectory.
Financial Outlook
Rivian is still working to reverse billions in losses. It previously aimed for regular profitability by 2027 but recently postponed that target to invest in autonomous-driving software, largely due to a deal with Uber to supply self-driving R2 SUVs.
