Rivian’s earnings soar as R2 production begins

We already have it Rivian manufacturing and delivery from the first three months of the year. The company sold 10,365 vehicles in Q1, representing a 20% year-over-year increase. And 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 reaffirmed its claim that it will sell 62,000-67,000 vehicles this year.

In terms of revenue, Rivian reported that it brought in $1.38 billion in revenue, an increase of 11.3 percent compared to $1.24 billion in Q1 2025. Of that revenue, $908 million came from vehicle revenue, which is down 1.5 percent year-on-year. In comparison, the company reported $473 million from software and subscription services, an increase of 48.7 percent year over year. With EV sales slowing, the company is looking to make more money from digital products, including the recently announced Autonomy Plus package.

Rivian’s net profit was $119 million, down 42% year over year. But its auto profit lost $62 million, compared to $92 million in net profit in the same quarter in 2025, largely due to a $100 million decline in sales of passenger cars and lower prices.

Rivian is betting that its low-cost R2 car will help boost sales, especially as demand for EVs declines after the elimination of the $7,500 EV tax credit. The mid-size SUV is crucial to the company’s future, as it seeks to secure a sustainable economy and invest heavily in a new factory and automotive operations. A timely launch – the first R2s are expected to reach customers in June – appears to be key to success.

Rivian released its first profit in 2025in part by reducing company-wide costs. And it is proving to be profitable by the end of 2026. The company is also sticking to its goal of selling more than 20,000 R2 cars by the end of the year – even though a tornado tore off the roof of the company’s factory in Normal earlier this month.

To that end, it’s been a busy few months for Rivian. The company announced plans to develop its own AI chips and add lidar sensors to future R2 models to support autonomous driving. Last month, Rivian explained implementation of R2starting with high-priced models up to $57,000 for the performance model. The most popular model, which starts at $45,000, won’t come out until late 2027.

Also, Rivian he reached a great climax in his programs partnership with Volkswagenand opening an additional $1 billion investment from the German auto giant. VW has said it will invest $5.8 billion in Rivian if it meets certain targets. The partnership creates a next-generation program, based on Rivian’s work in zonal design, which will eventually be available in VW brands such as Audi, Scout, and Porsche.

Finally, the company arrived The main partnership is with Uber selling thousands of R2 vehicles to a ridehail company for use as robotaxis. Uber said it will invest $1.25 billion as part of the deal, starting with $300 million at signing.