Business
Rivian Releases First Quarter 2026 Financial Results
Started production of saleable R2 vehicles and made first deliveries to employees with external customer deliveries expected in the coming weeks Consolidated
About this update from Rivian Automotive, Inc.
[{"type":"text","content":"\n\nStarted production of saleable R2 vehicles and made first deliveries to employees with external customer deliveries expected in the coming weeks\n\n\n\nConsolidated revenue growth of 11 percent year-over-year and generated $119 million of consolidated gross profit for the quarter\n\n\n\nIncreased Georgia plant initial production capacity to 300,000 vehicles annually; expects first advance on $4.5 billion DOE loan in early 2027\n\n\n\nRobotaxi partnership with Uber to deploy up to 50,000 fully autonomous robotaxis\n\n\n\n$1 billion of funding from Volkswagen Group through successful completion of winter testing\n\n\n\n IRVINE, Calif.--(BUSINESS WIRE)--\nRivian Automotive, Inc. (NASDAQ: RIVN), an American automotive technology company that develops and manufactures category-defining electric vehicles as well as vertically integrated software and services for the entire lifecycle of the vehicle, today announced its first quarter 2026 financial results.\n\n\nRJ Scaringe, Rivian Founder and CEO, said:\n“With the launch of R2, we are excited to dramatically expand our market opportunity and have more people driving Rivians. The support of the Department of Energy for the $4.5 billion loan to build our Georgia facility enables Rivian to grow American jobs and establish stronger U.S. technology and manufacturing leadership while further scaling our customer base.”\n\n\nBusiness Highlights\n\n\nLast week Rivian announced the start of production of saleable R2 vehicles in Normal, Illinois. This key step is an exciting milestone in Rivian’s history and is the culmination of the hard work from many teams across the company. With R2, Rivian has taken its design, performance and technology and brought it to a significantly broader audience without losing what makes a Rivian unmistakably Rivian.\n\n\nThe company made the strategic decision to increase the initial production capacity of its Georgia plant by 50 percent, bringing the first phase to 300,000 units of annual production capacity for the company’s mid-sized vehicle platform. This change is expected to boost cost efficiency while still providing significant room for future expansion in later phases. The company remains on track for vehicle production in Georgia to begin in late 2028.\n\n\nAs part of this new vision for the Georgia facility, Rivian worked with the Department of Ener...