Rivian's revenue and profitability improved sharply in the second quarter as the EV maker prepares to ramp up production of its new R2 SUV.
The details: Rivian generated $1.658 billion in second-quarter revenue, up 27% year over year, while posting gross profit of $179 million, a $385 million improvement from the same period last year.
Gross profit loss narrowed to $36 million from $335 million in the second quarter of 2025, a $299 million improvement, driven largely by higher production and delivery volumes.
Rivian produced 12,613 vehicles at its Normal, Illinois, manufacturing plant during the quarter and delivered 12,194 vehicles to customers.
Why it matters: Rivian's improving financial performance and production growth suggest the automaker is gaining momentum, with the R2 expected to play a pivotal role in expanding its customer base and strengthening its long-term competitiveness.
OUTSMART THE CAR MARKET IN 5 MINUTES A WEEK
Get insights trusted by 55,000+ car dealers. Free, fast, and built for automotive leaders.
Between the lines: Rivian is banking on the R2, which starts at $57,990, to sustain its revenue and profitability gains following the start of customer deliveries of the midsize electric SUV in early June.
Rivian has not released official R2 order figures, but about 789 units were delivered to U.S. buyers in the second quarter, while owner-logged VIN assignments surpassed 5,000 last week, according to EV.
The company is building a second manufacturing plant in Georgia that is expected to add up to 300,000 units of annual capacity for the R2, a future robotaxi variant of the R2 and upcoming models, including the R3.
What they’re saying: “This quarter we began external deliveries of R2. I believe R2 will be a game changer for our customers and a driver of Rivian’s long-term growth and profitability,” said RJ Scaringe, Rivian Founder and CEO, per a press statement. “…The U.S. automotive marketplace is starved for high-quality EV choice, and I believe R2 is an attractively priced option for everyday adventures that will resonate with a broad set of consumers.”
Bottom line: Rivian's improving financial performance underscores how successfully scaling the R2 could strengthen the company's overall market position, while highlighting how competitively priced premium EVs could intensify competition as consumer demand evolves.
A quick word from our partner
Plug is the daily wholesale auction built exclusively for EVs.
We know them better than anyone, and it shows in the quality of what hits our auction every weekday morning.
We source higher-quality inventory than traditional auctions, with razor-sharp accuracy on every EV's details, so you can bid aggressively and confidently. Add hands-on support and a consistently strong sell-through rate you can count on.
Used EVs are selling faster than used ICE vehicles right now. If you're thinking about getting into EVs, now's the time.
