Rivian announced its third-quarter production and delivery figures this morning. Despite some headwinds faced by the electric vehicle industry in the United States, with the mass production of the R2 model advancing, the company still expresses optimism about achieving its annual targets.
Rivian In 2026, production and delivery volumes steadily accelerated throughout the year and are currently increasing as R2 production ramp-ups continue:
- First quarter of 2026: 10,236 vehicles produced, 10,365 vehicles delivered.
- Second quarter of 2026: 12,613 vehicles were produced and 12,194 vehicles were delivered, performing better than the initial quarterly expectations. R2 is part of this acceleration.
- Third quarter of 2026: 19,751 vehicles produced, 19,248 vehicles delivered.
Just looking at these numbers, the performance is quite impressive:
- 58%: The delivery volume in the third quarter increased by 58% compared to the second quarter, likely benefiting from the R2 ramp-up.
- 41,807 units: Cumulative deliveries in the first three quarters of 2026.
- 65,000 to 70,000 units: The company has reiterated its annual delivery target range. To achieve this goal, another 23,000 to 28,000 units need to be delivered in the fourth quarter. Considering the ramp-up of Rivian and the launch of the Premium version "later in 2026," this target seems highly likely to be achievable.
Obviously, the lower-cost R2 is likely to have driven most, if not all, of this growth, despite the fact that Rivian will only be selling the higher-priced Performance version until the end of this year. Rivian also announced this week that its Lidar suite will not be delivered to customers until 2027, which is a delay from the initial target of the end of 2026.
Looking at a broader scope: In 2026, the transformation of electric vehicles in the United States is undergoing a real-world test.
By the end of 2025, federal car purchase tax credits will expire. Coupled with interest rates remaining high, this has already slowed down the overall growth rate of electric vehicles and prompted many traditional automakers to postpone their aggressive electrification timelines.
Due to factors such as the AI infrastructure, electricity prices have risen, but the war in Iran has caused gasoline prices to increase even more.
Rivian will release its full financial report for the third quarter of 2026 after the close of U.S. markets on October 29, 2026, followed by an investor webcast and Q&A session at 5 p.m. Eastern Time. We will provide live coverage of the event.
Electrek's perspective:Rivian's ability to nearly double its quarterly deliveries compared to the first quarter demonstrates that the manufacturing efficiency at its Normal plant in Illinois is improving. It also reflects an increasing demand for its core R1 model, commercial delivery vans, and more importantly, the newly launched R2 Performance version.
Although the profit margin of R2 is lower than that of the flagship R1 model, the average selling price of the currently sold Performance version should still be close to that of R1.
From a personal perspective, after test-driving and reviewing it this summer, I can't wait any longer for the Performance version. Although I told myself to wait for the Lidar package and the V2X updates.
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