The R2 SUV is already Rivian’s best-selling vehicle

Rivian’s caller R2 SUV was its best-selling conveyance successful the 3rd quarter, the institution said Thursday, marking an auspicious commencement for the all-important EV.

While Rivian didn’t accidental precisely however galore R2s it sold implicit the three-month period, the institution is assured capable successful the gait of income that it raised its transportation guidance for Wall Street. Rivian had antecedently expected to present betwixt 65,000 and 70,000 EVs this year. On Thursday, it bumped up that level to 67,000.

It’s the 2nd clip Rivian has raised its transportation guidance this year, and the institution is present connected way to interruption a three-year stalemate during which it struggled to vessel much than 50,000 vehicles annually. The institution launched the R2 conscionable successful June, but it has made a large stake connected scaling accumulation of the lower-cost SUV astatine a historically-quick rate.

The aboriginal occurrence of the R2 is besides a motion that Rivian is uncovering caller customers contempt past year’s nonaccomplishment of the $7,500 national EV taxation credit. The decease of that taxation credit, on with changes made by the Trump medication to U.S. regulations that supported the maturation of EVs, has caused galore large automakers to displacement their attraction backmost to interior combustion and hybrid vehicles — leaving country successful the marketplace for pure-EV companies similar Tesla and Rivian.

“In a U.S. automotive marketplace starved for high-quality EV choice, R2 is an attractively priced enactment for mundane adventures that is resonating with a wide acceptable of consumers and we expect volition beryllium a crippled changer for Rivian’s semipermanent maturation and profitability,” the institution said successful a missive to shareholders released Thursday.

Rivian revealed earlier this period that it built 19,751 vehicles successful the 3rd 4th and delivered 19,248. That was astir 45% much than it delivered successful the aforesaid play past twelvemonth and a large leap from the 12,613 vehicles built and 12,194 delivered successful the 2nd 4th of 2026. The summation was driven successful ample portion by the institution launching a 2nd accumulation displacement astatine its mill successful Normal, Illinois.

Rivian said Thursday that the R2 was liable for “much of the summation quarter-over-quarter,” but didn’t spell into specifics. The institution generated $2.2 cardinal successful gross successful the 3rd 4th and suffered a nett nonaccomplishment of $913 cardinal — down from $1.2 cardinal successful the aforesaid play past year.

Rivian launched the R2 astatine a starting terms of conscionable nether $60,000. A much affordable “premium” trim is expected to beryllium disposable aboriginal this twelvemonth that starts astatine $53,990. Even cheaper versions are slated for 2027, which volition beryllium disposable for arsenic debased arsenic $44,990.