Rivian's production and deliveries in the third quarter point to a strong quarter ahead of its Oct. 29 earnings report. The Normal, Illinois, plant produced 19,751 vehicles, up 84.2% year over year, and delivered 19,248, up 45.8%, driven by the launch of the midsize R2, priced from $45,000 for the single-motor standard model. The article says the R2 competes with the Model Y, Ioniq 5, EV6 and Mustang Mach-E, and analysts project more than 20,000 R2 deliveries in its initial rollout. Rivian reported second-quarter revenue of $1.66 billion, up 27%, with an 11% gross margin, and reiterated 2026 delivery guidance of 65,000 to 70,000 vehicles. Software and services, including technology licensing to its Volkswagen joint venture and subscriptions like Connect+ and Autonomy+, make up nearly 30% of total revenue at a gross margin above 35%.
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