Rivian Automotive (RIVN) shares rose 4% after its third-quarter report showed revenue up 38% to $2.16 billion, above the $2 billion analysts expected, on a record 19,248 deliveries. The R2 SUV became the company's best-selling model, and Rivian raised its 2026 delivery guidance to 67,000–70,000 vehicles from 65,000–70,000. The automotive business still posted an $80 million gross loss, up from $36 million in the second quarter, as R2 ramp-up costs reached about $120 million; however, automotive cost per unit fell by more than $12,000 from the prior quarter, and Rivian expects the R2 to reach a positive gross margin by year-end. CEO RJ Scaringe said Rivian is “very confident” it will hit an autonomy milestone this year that unlocks $250 million from Uber. Tesla and Lucid both delivered fewer vehicles than a year earlier.
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RIVNelectric vehiclesearningsTesla
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• NeutralTesla, Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Automobile Manufacturers |
| Market cap | $1.5T |
| Close on 10/29/2026 | 403.29 |
| Change that session | -0.23% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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