Rivian’s revenues rose with the start of R2 production

We already have Rivian production and delivery statement From the first three months of the year. The company sold 10,365 vehicles in the first quarter, representing a 20 percent increase year over year. It produced 10,236 vehicles at its plant in Normal, Illinois, which represents a 30 percent increase compared to the same period last year. The company also reiterated its expectations that it will sell between 62,000 and 67,000 cars this year.

In terms of earnings, Rivian said it had revenue of $1.38 billion, an increase of 11.3 percent compared to $1.24 billion in the first quarter of 2025. Of that amount, $908 million came from automotive revenue, which declined 1.5 percent year over year. By comparison, the company reported $473 million from software and subscription services, a whopping 48.7 percent increase year over year. With electric vehicle sales slowing, the company is looking to make more money from its digital products, including the recently announced Autonomy Plus package.

Rivian’s gross profit was $119 million, down 42 percent year over year. But its auto earnings posted a loss of $62 million, compared to a total profit of $92 million in the same quarter of 2025, primarily due to a $100 million drop in auto regulatory credit sales and lower production volumes.

Rivian is betting that its affordable R2 will help boost sales, especially as demand for electric vehicles declines after the $7,500 federal tax credit was eliminated. The mid-sized SUV is crucial to the company’s future, as it seeks to secure a more stable financial position while investing heavily in a new factory and self-driving projects. A timely launch – the first R2 vehicles are expected to reach customers in June – is seen as vital to this success.

Rivian reported its first-ever gross profit in 2025in part by cutting costs throughout the company. It maintains that it will achieve positive gross profit margins by the end of 2026. The company is also sticking to its goal of selling more than 20,000 R2 vehicles by the end of the year – despite a hurricane that tore off the roof of part of the company’s factory earlier this month.

To that end, it’s been a busy few months for Rivian. The company announced plans to design its own AI chips and add lidar sensors to future R2 models to help power fully autonomous driving. Rivian explained last month Launch R2starting with higher-priced variants of up to $57,000 for the Performance Edition. The much-touted base model, which starts at $45,000, won’t be released until the end of 2027.

In addition to Rivian Hit a major milestone In its programs Joint venture with VolkswagenThis opens the way for additional investments worth $1 billion from the German auto giant. Volkswagen said it will invest a total of $5.8 billion in Rivian if it meets certain goals. The joint venture is developing a next-generation software platform, based on Rivian’s work in area engineering, that will eventually find its way into VW brands such as Audi, Scout and Porsche.

Finally the company went down Big deal with Uber To sell tens of thousands of R2 vehicles to Ridehail for use as robotaxis. Uber said it will invest $1.25 billion as part of the deal, starting with $300 million upon signing.