"Shares of Rivian Automotive Inc. ( NASDAQ: RIVN) are trading for 7.3% less than a week ago. The electric vehicle (EV) maker officially began rolling out manufacturing validation units of the highly anticipated R2 SUV, and it issued a recall for approximately 20,000 R1T and R1S vehicles. The partnership with Volkswagen remains, and the CEO has reaffirmed that R2 deliveries are on schedule for the first half of 2026."
"In the latest quarterly results, revenue was up slightly year over year to $1.6 billion. Also, the company posted a narrower-than-expected loss. It noted that the quarter was likely its strongest delivery quarter of the year due to the expiration of federal EV tax credits. Wall Street sentiment on the stock was mixed after the third-quarter report. The stock is 18.8% higher than a year ago, despite facing challenges from reduced delivery targets and tariff pressures."
Shares dipped 7.3% over the past week but remain roughly 9.0% above six-month levels and 18.8% above year-ago levels. The company has begun rolling out manufacturing validation units of the R2 SUV and issued a recall for about 20,000 R1T and R1S vehicles. Quarterly revenue rose slightly to $1.6 billion and the loss was narrower-than-expected, with the quarter noted as likely the strongest delivery quarter because of expired federal EV tax credits. Deliveries fell, with Q4 at 9,745 vehicles (down 31% year over year) and 2025 deliveries totaling 42,247 (down 18%). Rivian faces softening demand, expired tax credits, and tariff-driven cost increases but is pursuing cost efficiencies, strategic partnerships including a $5.8 billion joint venture with Volkswagen, and plans to begin R2 deliveries in the first half of 2026 amid analyst expectations of about 66,000 deliveries in 2026.
Read at 24/7 Wall St.
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