Rivian raised full-year delivery guidance to 67,000–70,000 units from 65,000–70,000, as the company ramps production of its R2 SUV.

  • The EV maker’s consolidated revenue reached $2.155 billion in the third quarter, up 38% year-over-year.
  • Scaringe said the first real output from the joint venture with Volkswagen will launch next year: Volkswagen’s ID.EVERY1, a roughly €20,000 electric vehicle for Europe.
  • Scaringe said the second R2 production shift has started in Normal, Illinois, with the manufacturing run rate expected to rise over coming quarters.

Shares of Rivian Automotive (RIVN) rose roughly 5% after-hours on Thursday after the company raised its full-year delivery outlook citing strong demand for its R2 SUV, while also reiterating conviction in its partnership with German automaker Volkswagen.

RIVN Reports Strong Q3 Performance

The EV maker’s consolidated revenue reached $2.16 billion in the quarter, up 38% year-over-year. Automotive revenue was $1.55 billion, while software and services revenue grew 45% to $605 million. Adjusted net loss per share in the quarter narrowed to $0.48, compared to an estimated loss of $0.56.  

Roughly 60% of Rivian’s software and services revenue came from its joint venture with Volkswagen Group. To date, Rivian has received $5.3 billion of the $5.8 billion in expected capital commitments tied to the joint venture, with the remaining $460 million anticipated in late 2027, CEO RJ Scaringe said.

Scaringe said the first real output from the joint venture will launch next year: Volkswagen’s ID.EVERY1, a roughly €20,000 electric vehicle for Europe. “It’s a wonderful way to demonstrate the capabilities of our technology outside of the Rivian brand and outside the U.S. market,” he said.

The conviction reiteration comes on the heels of a report from earlier this week that Volkswagen is considering incorporating the software developed with Chinese automaker XPeng for some of its European models, raising concerns that it might reduce the relevance of Rivian and pulling the stock down.

Scaringe also expressed optimism for technology partnerships with other automakers, though the near-term focus remains on Rivian programs and the Volkswagen Group programs, he added.

Rivian’s R2 Ramps Fast

Scaringe noted that  the company’s new R2 vehicle, deliveries of which started in June, “is already our best-selling vehicle by volume, outselling both R1 and EDV.” Rivian is still shipping only the Launch Edition R2, with cheaper variants planned for late 2026 and 2027.

The company chief said the second R2 production shift has started in Normal, Illinois, with the manufacturing run rate expected to rise over coming quarters. The company expects R2 to represent the majority of total delivery volume in the fourth quarter.

RIVN’s Other Partnerships

In addition to Volkswagen, Rivian has partnerships in place with retail giant Amazon.com and ride-hailing platform Uber. Scaringe said on Thursday that the company has begun delivering new Amazon electric delivery van (EDV) variants designed for broader rural routes, including all-wheel drive and a larger battery pack with 30% more range. The EDV is Rivian’s only vehicle targeted to fleet customers; Amazon is the largest named customer with an order in place for up to 100,000 units.

Rivian also remains on track for a year-end milestone under its Uber partnership, aimed at deploying its vehicles as robotaxis on the ride-hailing platform, which is expected to unlock an additional $250 million equity investment.

Guidance And Path Forward

Rivian raised full-year delivery guidance to 67,000–70,000 units from 65,000–70,000. It now expects adjusted core losses of $1.85 billion to $1.75 billion, a $100 million improvement at the midpoint, and lowered 2026 capital expenditure guidance to $1.4 billion–$1.5 billion. Management said it expects to achieve a positive automotive gross margin exit rate for the year, supported by R2 scaling. The company ended the quarter with about $5.5 billion in cash and short-term investments.

How Did RIVN Retail Traders React?

On Stocktwits, retail sentiment around RIVN stock jumped from 'bullish' to 'extremely bullish' territory over the past 24 hours, while message volume stayed at 'high' levels.

A Stocktwits user expressed disappointment, noting that the company still looks far from achieving profitability.

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Another user noted that the company has a “real opportunity” in the autonomous delivery business which is being overlooked.

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RIVN stock has dropped 42% year-to-date. 

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