Overview
- Rivian, which reported Thursday, delivered 10,365 vehicles in Q1 versus a 9,678 consensus and produced 10,236, while holding full‑year guidance at 62,000 to 67,000.
- R2 production is starting in Normal, Illinois with employee deliveries in April and first customer handovers in late spring, launching with a $57,990 Performance trim.
- The entry R2 priced around $45,000 is slated for 2027, so early output will skew to higher‑priced versions that help fund the ramp.
- To reach the 2026 range, Rivian must average roughly 17,000 to 19,000 deliveries per quarter from April through December, implying the new R2 contributes about 20,000 to 25,000 units.
- Q1 production fell about 30% from a year ago due to retooling for the R2, and deliveries outpaced output by 129 vehicles as Rivian drew down inventory, while an Uber deal adds up to $1.25 billion and a 2028 robotaxi path for the R2.