Rivian Automotive, Inc. develops, manufactures, and sells electric vehicles through its Automotive and Software and Services segments. Its consumer lineup includes the R1T five-passenger pickup truck and the R1S seven-passenger SUV. The company also offers software and services such as vehicle electrical architecture, Autonomy+, remarketing, repair and maintenance, subscriptions, accessories, financing, and insurance. It designs and manufactures the Rivian Adventure Network DC fast chargers and FleetOS fleet management platform, and provides the Rivian Commercial Van platform for electric delivery vans in collaboration with Amazon.com, Inc. Founded in 2009, Rivian is based in Irvine, California.
Rivian cuts jobs, faces safety probe, but R2 and AI bets drive long-term story
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Job cuts signal cost pressure Rivian cut hundreds of jobs, mostly in service and customer operations, to reduce costs. This shows the company is still under financial pressure and led to a 5.2% share drop. It's a small cut (under 2% of staff) but a reminder that Rivian isn't yet profitable.
Directly explains a negative price move and highlights ongoing cost challenges.
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US safety probe into 100,000 vehicles NHTSA opened a preliminary investigation into rear suspension failures on over 100,000 Rivian vehicles. This could lead to recalls or fines, hurting reputation and adding costs. The stock fell 10% in a week, partly on this news.
New regulatory risk that could impact future sales and expenses.
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R2 launch and AI pivot attract partners Rivian launched its lower-cost R2 SUV at about $45,000, earlier than expected, and is shifting toward AI and robotaxis. Uber committed up to $1.25 billion for R2 SUVs through 2031. These moves could boost future demand and revenue, though profits are still years away.
Key growth catalysts that could drive long-term upside.
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Financial health: cash burn vs. VW support Rivian burned $3.04 billion in cash over the past year and has $4.83 billion cash against $6.58 billion debt. Analysts warn of possible dilutive capital raises. However, the Volkswagen joint venture generated $282 million in software revenue and provides liquidity support, with management guiding to nearly $8 billion available in 2026.
Balances the risk of cash shortage with partnership-backed liquidity.
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Rivian's autonomy bet costs it 2027 profit as R2 doubts grow
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Rivian drops 2027 profit target to fund autonomy push Rivian quietly abandoned its goal of turning a profit in 2027, saying it will spend more on self-driving research instead. That pushes profits further out and makes the company depend on outside cash for longer, which weighs on the stock.
This is the period's biggest new fundamental change: a formal profit target dropped, directly hitting the investment case.
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Citi starts Rivian at Neutral, doubts R2 ramp Citi began covering Rivian with a Neutral rating, questioning whether the R2 can be built and sold at the volumes Wall Street expects. If the ramp is slower than hoped, revenue and profit arrive later, pressuring the shares.
A major bank publicly challenging the R2 volume story is a new, concrete counterweight to the bull case.
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Losses and weak EV demand drag stock down 25% Rivian lost $833 million on just over 12,000 vehicles in its latest quarter, and the stock fell more than 25% in three months. The R2 launched near $58,000, not the advertised $44,990, and the $7,500 tax credit ends September 30, hurting demand.
It quantifies the cash burn and shows the demand and pricing problems that are actually moving the stock.
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Amazon expands Rivian van order with safety cameras Amazon will install 360-degree cameras in half of its Rivian electric delivery vans by year-end, a concrete order for Rivian's commercial van business. Steady fleet demand from its biggest shareholder supports revenue while the consumer R2 ramp is uncertain.
It is a fresh, tangible order signal that offsets some of the negative R2 and profit news.
Q3 2026
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Rivian's R2 launch and partnerships boost, but losses and dilution sink stock
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R2 launch and delivery beat Rivian's cheaper R2 SUV launched with strong reviews and beat delivery guidance, prompting the company to raise full-year guidance to 65,000–70,000 vehicles. This shows demand for its vehicles is holding up better than expected.
It highlights a key operational success that drove positive sentiment.
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Uber robotaxi deal and software growth Uber committed up to $1.25 billion and ordered up to 50,000 robotaxis, while software revenue from the Volkswagen partnership grew and Amazon expanded van orders. These partnerships provide cash and validate Rivian's technology.
It shows new revenue streams and partnerships that support the long-term story.
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Financial losses and dilution Rivian burned $1.08 billion, swung to an automotive gross loss, and raised billions via discounted share sales, diluting holders by about 6%. The company also abandoned its 2027 profitability target and lost its CFO, raising concerns about its financial health.
It explains the severe financial pressures that weighed on the stock.
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Quality issues and competitive pressures Rivian ranked last in J.D. Power quality, the R2 launched near $58,000—not the promised $44,990—just as the EV tax credit ended, and Ford competition intensified. A Neutral rating added pressure, and the stock fell over 25% in three months.
It captures the operational and market challenges that hurt investor confidence.
News & notes movingRIVN
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Rivian Shares Fall 3.3% After Unchanged Full-Year Delivery Guidance
Rivian shares fell 3.3% in the afternoon session after the electric vehicle maker kept its full-year delivery guidance unchanged even though third-quarter deliveries came in above expectations. The company reported third-quarter 2026 production of 19,751 vehicles at its Normal, Illinois facility and 19,248 deliveries, yet reaffirmed its full-year delivery guidance range of 65,000 to 70,000 vehicles. The stock was trading at $14.19, down 3.9% from the previous close, and is down 26.9% since the start of the year, sitting 36.8% below its 52-week high of $22.45 from December 2025. Rivian shares have been extremely volatile, with 40 moves greater than 5% over the past year, and today's decline suggests the market views the news as meaningful but not fundamentally business-changing.
Rivian Sets Sales Record as R2 SUV Launch Drives 45% Delivery Jump
Rivian sold more electric vehicles than ever in the third quarter, delivering 19,248 vehicles and building 19,751, roughly 45% more than it delivered in the same period last year, with the launch of its new, more affordable R2 SUV driving much of the gain. The quarter was the first full sales period for the R2 after it launched in June, though Rivian did not break out how many of the deliveries were R2 SUVs. Rivian is betting it will sell between 20,000 and 25,000 R2 vehicles by the end of the year, which would make it one of the fastest-selling EVs in U.S. history, second only to Tesla's Model Y, and it plans cheaper models costing as low as around $45,000. If it hits those numbers, the company believes it can sell between 65,000 and 70,000 vehicles this year, including its R1 lineup and its commercial electric van, which would be its best sales year ever after being stuck at around the 50,000-vehicles-sold mark. Rivian builds the R2 at its factory in Normal, Illinois, and is also building a new factory outside Atlanta, Georgia, where it expects to build as many as 300,000 vehicles per year in the near future, with the option to expand that capacity; the company will release its full third-quarter financial results on October 29.
Rivian Delays Customer R2 LiDAR Autonomy Rollout to 2027
Rivian Automotive plans to equip its first R2 vehicles with LiDAR and its internally developed RAP1 autonomy computer for employees by the end of 2026, while customer deliveries are now expected to begin in 2027, according to Electrek. The timeline marks a shift from the company's earlier communications, as Rivian introduced the third-generation RAP1 chip last December, rated at 1,600 sparse INT8 TOPS, and said at the time the technology would arrive in late 2026. The R2 launched in June without the new hardware, though a production-ready-looking R2 equipped with LiDAR was later spotted near Rivian's Irvine headquarters. Rivian VP of Investor Relations Chip Newcom said production of the RAP1 system will initially focus on the R2, with employees receiving the technology first before the rollout expands to customers in 2027, leaving the late 2026 target technically intact but initially applying only to employees. Rivian SVP of Autonomy and AI James Philbin said the rollout is expected to begin toward year-end, initially reaching early-adopter customers with R1 Gen 2 vehicles and later Gen 2 hardware revisions, including fleets Rivian classifies as Phase II and Phase III, with the company aiming to extend the technology across its full Autonomy+ fleet later next year. Separately, Lucid Group and Bolt have entered a strategic partnership to develop and launch autonomous mobility services across Europe, jointly developing an autonomous driving system-ready vehicle platform designed to support SAE Level 4 autonomous mobility, while France has begun testing two vehicles to evaluate Tesla's Full Self-Driving system after the Netherlands' road authority RDW provisionally approved it for Dutch roads in April.
Robotics & Physical AI › Autonomous Vehicles & Robotaxi Technology
Robotics & Physical AI › LiDAR & 3D Perception Sensors ▲Technology
RIVN · Technology · Negative Rivian's customer R2 LiDAR/RAP1 autonomy rollout slips to 2027 from the earlier late-2026 target.
LCID · Technology · Positive Lucid and Bolt partner to develop an SAE Level 4 autonomous mobility vehicle platform and launch autonomous services in Europe.
Bolt Autonomous Driving Solutions · Technology · Positive Bolt partners with Lucid to jointly develop an autonomous-driving-ready platform for Level 4 mobility services in Europe.
TSLA · Regulation · Positive France begins testing Tesla's Full Self-Driving after Dutch RDW provisional approval, aiding FSD regulatory rollout.
Flow Engineering Raises $50M Series B at $750M Valuation
Flow Engineering announced a $50 million Series B at a $750 million valuation, co-led by Antonio Gracias, founder of Valor Equity Partners, and Gavin Baker, Managing Partner at Atreides Management. Sequoia Capital, which led Flow's Series A, participated alongside Human Capital, Evantic, SV Angel, Odyssey and EQT, with contributions from Hugging Face co-founder Thomas Wolf, Mercedes-Benz CIO Jonas von Malottki and Formula 1 world champion Nico Rosberg, while Roelof Botha joined Flow's board as an independent director and personally invested. Since its Series A last October, Flow has added General Motors PPU, Rivian and Volkswagen's joint venture RV Tech, Anduril, Stoke Space, Intuitive Machines and Pacific Fusion as customers, joining existing customers such as Rivian, Joby Aviation, Astranis and Radiant Industries. Adoption at Rivian grew from 40 to 1,500 users in 7 months, with Rivian engineers now running millions of API calls each week. Flow will use the funding to build its AI harness for hardware engineering, expand review, branching and evaluation capabilities, grow its engineering team across AI and systems engineering, pursue FedRAMP authorization and other certifications for regulated industries, and scale its sales team.
THOR Industries reported second-quarter revenues of $2.31 billion, down 8.4% year on year but exceeding analysts' expectations by 6.1%, even as the company significantly missed analysts' EBITDA and EPS estimates. The RV maker's results came as the 11 automobile manufacturing stocks tracked in the group reported a mixed quarter, with revenues as a group beating consensus estimates by 2.2% while share prices fell an average of 11.1% since the latest earnings results. THOR stock is up 1.4% since reporting and currently trades at $70.93. Among peers, Rivian reported revenues of $1.66 billion, up 27.2% year on year and beating expectations by 7.9%, while Winnebago posted revenues of $698.7 million, down 9.9% year on year and missing expectations by 7.9%. Goodyear reported revenues of $4.25 billion, down 4.8% year on year, and Mobileye reported revenues of $508 million, flat year on year.
THO · Capital · Neutral THOR Q2 revenue beat estimates but missed EBITDA and EPS estimates
WGO · Capital · Neutral Winnebago cited as peer with revenue down 9.9% and missing expectations
GT · Capital · Neutral Goodyear reported revenues of $4.25 billion, down 4.8% year on year, mentioned only as part of the mixed auto-manufacturing group.
MBLY · Capital · Neutral Mobileye reported revenues of $508 million, flat year on year, mentioned only in passing among peers.
RIVN · Capital · Neutral Rivian reported revenues of $1.66 billion, up 27.2% year on year and beating expectations, but is only a peer comparison in THOR's story.
Amazon Deploys 360-Degree Cameras in Electric Vans, Raises Driver Pay
Amazon has begun deploying Netradyne surround-view cameras on its electric delivery vans and is boosting driver pay by $1 to support recruiting and retention, the company said this week. By the end of the year, the 360-degree camera technology will be installed in 50% of Rivian electric delivery vehicles across Amazon's network, according to Beryl Tomay, vice president of transportation. Amazon has invested more than $543 million in safety initiatives, programs and technology for independent business owners that operate delivery fleets for Amazon, and those investments, combined with contractor safety efforts, helped reduce serious vehicle crashes by more than 23% last year. The Delivery Service Program also received a $1.9 billion injection of funds that will be dispensed to owner-operators to increase driver pay by an average of 16% nationwide, with national average earnings rising by about $1 to nearly $24 per hour. Amazon said it expects to have more than 20,000 AI-powered smart glasses devices in the field by the end of 2027, and has installed simulators at 30 Integrated Last Mile Driver Academy locations since last year, on track to reach 40 simulators by the end of the year.
Robotics & Physical AI › Autonomous Trucking & Delivery Technology
Electrification & Mobility › Commercial & Heavy-Duty Electric Vehicles Technology
AMZN · Technology · Positive Amazon is deploying Netradyne 360-degree cameras and AI smart glasses across its delivery fleet, a technology investment that cut serious crashes 23%.
AMZN · Capital · Positive Amazon injected $1.9 billion into its Delivery Service Program and raised driver pay to boost recruiting and retention.
Netradyne · Demand · Positive Amazon is deploying Netradyne's surround-view camera technology on its electric delivery vans, a direct product adoption win.
RIVN · Demand · Positive Netradyne cameras will be installed in 50% of Rivian electric delivery vehicles across Amazon's network by year-end, a concrete order for Rivian vans.
Rivian Recalls 98,828 U.S. Vehicles Over Rearview Camera Issue
Rivian Automotive is recalling 98,828 vehicles in the United States because an obstructed rearview camera image can reduce the driver's view behind the vehicle, Reuters reported, citing the National Highway Traffic Safety Administration. The recall covers certain R1S vehicles from model years 2022 through 2027, R1T vehicles from model years 2022 through 2026, and 2027 R2 vehicles. As part of the remedy, the automaker has released an over-the-air software update free of charge.
RIVN · Regulation · Negative Rivian is recalling 98,828 U.S. vehicles over an obstructed rearview camera issue, a regulatory/safety recall affecting its R1S, R1T, and R2 models.
TD Cowen Calls Auto Stock Selloff on Chinese EV Fears 'Overdone' Ahead of Trump-Xi Talks
TD Cowen told clients on Tuesday that the recent selloff in auto stocks over fears of Chinese automakers entering the US market is "overdone," as President Xi Jinping arrives in Washington on Wednesday for three days of talks with President Trump. Senior analyst Itay Michaeli wrote that a shift in US import policy at the summit is "very unlikely," though he urged investors to prepare for that eventuality anyway, noting that most industry contacts share that view. A coalition led by the Alliance for Automotive Innovation, joined by the American Automotive Policy Council, dealer group NADA, and supplier association MEMA, sent a letter to Trump urging the administration to "keep the door firmly shut to Chinese automakers seeking to sell, import, or manufacture vehicles inside the US," crediting Trump's 100% tariffs on Chinese vehicles and a Commerce Department rule barring Chinese connected-car software with shielding the US from the surge seen in Europe, Australia, Southeast Asia, Mexico, and South America. TD Cowen laid out guardrails under which Chinese automakers could be forced in through minority-owned joint ventures with domestic players and probably barred from building full-size trucks, and Michaeli argued such structures "might even prove EPS accretive given sizable D3 EV losses," with Stellantis arguably having the most to gain given its lower North America EBIT starting point. The firm sees EV suppliers and charging networks like ChargePoint and EVgo as beneficiaries of faster US EV adoption, and parts makers with existing ties to Chinese OEMs, including BorgWarner and Aptiv, as "better positioned" than most, while the math is mixed for EV pure-plays Tesla, Rivian, and Lucid. The catch, per Michaeli, is that Big Three stock multiples could still suffer on the long-term risk that any initial restrictions eventually get lifted.
STLA · Competition · Positive TD Cowen argues Stellantis has arguably the most to gain from Chinese automakers being forced into minority-owned JVs, given its lower North America EBIT starting point.
APTV · Competition · Positive TD Cowen says parts makers with existing ties to Chinese OEMs, including Aptiv, are 'better positioned' than most amid Chinese EV entry fears.
BWA · Competition · Positive TD Cowen names BorgWarner among parts makers with existing Chinese OEM ties as 'better positioned' than most.
GM · Tariff · Neutral TD Cowen says auto selloff on Chinese EV entry fears is overdone; US import policy shift unlikely, with 100% tariffs and connected-car rule shielding US automakers.
CHPT · Demand · Positive TD Cowen sees EV charging networks like ChargePoint as beneficiaries of faster US EV adoption.
EVGO · Demand · Positive TD Cowen sees EV charging networks like EVgo as beneficiaries of faster US EV adoption.
Rivian Stock Falls Over 25% in Three Months as Losses Hit $833 Million
Rivian's stock has fallen more than 25% over the past three months, sliding from $20 on July 6 to just above $15, as the electric-vehicle maker lost $833 million on slightly more than 12,000 vehicles produced and delivered in its most recent quarter. The company's new R2 model launched at almost $58,000 even though it is advertised with a base price of $44,990, leaving potential buyers to wait several months for the cheaper version and handing Tesla's top-selling Model Y a head start. Rivian's Autonomy+ driver-assistance system also ranks below Tesla's Full Self-Driving, which Motor Trend calls the best advanced driver assistance system on the market. The U.S. EV market was badly crippled in the first half of the year, with most estimates putting the year-over-year sales drop at 20% to 25%, and the loss of a $7,500 tax credit on September 30 may be a reason. Recent Cox data show Americans have stayed with their gas-powered cars despite higher gas prices, and there is no reason to think Rivian's stock will trade much more than sideways until it releases Q3 figures.
Tesla to Unveil New Roadster on Oct. 1, 2026, With SpaceX Cold Gas Thrusters
Tesla, Inc. is set to unveil its new Roadster on Oct. 1, 2026, more than eight years after first introducing the concept in 2017, with a teaser released last weekend hinting that the production model will feature Tesla's signature "Cyber" design language. The teaser also highlights SpaceX cold gas thrusters mounted at the rear, and Tesla plans to reveal the Roadster at an event near Waco, TX, with the SpaceX package as the headline feature. Per Elon Musk, the Roadster will reach 60 mph in less than two seconds without the thrusters and in under one second with them. The Roadster was previously expected to debut on April 1, 2026, and the original concept promised a 1.9-second 0-60 mph time, a 620-mile range, a starting price of about $200,000, and a 2020 launch. Separately, Rivian Automotive, Inc. has introduced its R2 SUV in the United States and is considering bringing it to Europe as early as 2028, while Lucid Group, Inc. is preparing to unveil its midsize electric SUV, the Cosmos, this summer, with production expected to begin in late 2026 and an expected starting price below $50,000.
TSLA · Technology · Positive Tesla will unveil its new Roadster on Oct. 1, 2026, featuring SpaceX cold gas thrusters and sub-one-second 0-60 mph capability.
LCID · Technology · Neutral Lucid is preparing to unveil its midsize electric SUV Cosmos this summer with production in late 2026, a product development mentioned as context alongside Tesla's Roadster news.
RIVN · Technology · Neutral Rivian introduced its R2 SUV in the US and is considering bringing it to Europe as early as 2028, a product/expansion update mentioned as context.
Citi initiates Rivian at Neutral, doubts R2 production targets
Citi Research analysts Michael Ward and Vikram Bagri initiated coverage of Rivian with a Neutral rating, citing risks around the R2 launch and high-volume production. The R1S, R1T, EDV, and R2 are currently built at Rivian's Normal, Illinois facility, which Citi estimates has annual production capacity of 120K but has been underutilized, with 2025 output at just 42,417 units, or about 35% of that capacity. The analysts question market estimates, noting the FactSet consensus expects Rivian to deliver 82K R2s in 2027, implying production of over 1,500 units a week, and 183K R2 sales in 2028, both of which Ward and Bagri believe are not attainable. They said production is expected to accelerate in 2029, but meeting the 300,000-capacity target would require distribution locations to more than double from current levels and a significant market expansion, and they argued the consensus 2028 R2 sales estimate assumes a faster ramp at the Georgia plant, expected to start production in late 2028. The analysts said monthly sales and production data over the next 6-9 months will likely be the most important metrics to monitor, while Rivian shares are down about 2% Tuesday, the stock's third straight day in the red.
Rivian Drops 2027 Profit Target to Fund Autonomy Push
Rivian's executive team quietly dropped the company's 2027 profit target in March, a shift in priorities that should ultimately set the company up for greater long-term success. The electric vehicle maker had posted positive gross margins for the first time in its history in the fourth quarter of 2024, with positive gross margins generated in several subsequent quarters, leading many investors to believe management's long-term guidance of positive adjusted EBITDA margins by 2027 would soon be realized. Rivian announced it no longer expects to be profitable in 2027 due to an expected increase in research and development spend associated with the acceleration of its autonomy roadmap. The company has invested aggressively in self-driving technologies but arguably remains far behind deep-pocketed competitors like Tesla, and management decided to accelerate those investments earlier this year. Investors should applaud the move, given how critical autonomous tech will be to Rivian's long-term future.
Rivian's R2 Drives Uber Robotaxi Deal Worth Up to $1.25 Billion
Rivian's much-hyped R2, which began customer deliveries on June 9, 2026, is about more than boosting sales—it underpins a strategic partnership with Uber that could unlock high-margin recurring revenue. Uber will invest up to $1.25 billion in Rivian through 2031, contingent on meeting certain milestones, and plans to deploy 10,000 fully autonomous R2 robotaxis in the first phase of their joint venture, with initial deployments in San Francisco and Miami in 2028 and expansion to 25 additional cities by 2031. The companies may negotiate the purchase of up to 40,000 additional R2 vehicles starting in 2030. Uber will pay licensing fees for Rivian's autonomous driving software, a recurring revenue stream that could significantly boost gross profits. Analysts note that robotaxi potential drives a substantial portion of Tesla's valuation—Ark Invest estimates 88-90%, Bank of America 52%, and Morningstar about 30%—highlighting the potential value for Rivian.
RIVN · Demand · Positive Uber's $1.25B investment and 10,000 R2 robotaxi order plus licensing fees drive demand for Rivian's vehicles and software.
UBER · Demand · Positive Uber's partnership with Rivian expands its autonomous fleet and creates a strategic venture, though it involves investment and licensing.
Rivian's R2 Ramp Drives H2 Delivery Target of 42,400 to 47,400 Vehicles
Rivian Automotive must deliver 42,400 to 47,400 vehicles in the second half of 2026 to meet its full-year target, after delivering 22,559 in the first half, a required increase of 88% to 110%. The ramp of its R2 SUV, which began deliveries on June 9, is central to the plan, but it currently weighs on profitability, with about $100 million in launch-related costs in Q2 and a $36 million gross loss in its automotive business. Management expects R2's material costs to be about half those of the R1 and other production costs to fall by more than 50%, helping the automotive business reach positive gross profit by year-end. The fourth quarter will be the key test, as a second production shift is not expected to add significant volume until then, and the higher-priced R2 Performance starts at $57,990, while the $44,990 Standard model arrives in 2027.
Stratasys Launches F870 3D Printer; Toyota and Rivian Adopt Platform
Stratasys Ltd. has launched the F870 FDM system, a large-format additive manufacturing platform designed for factory-floor production, and Toyota Production Engineering and Rivian Automotive are already adopting it for tooling and manufacturing aids. The F870 features a build volume of 1000 x 610 x 610 mm and offers the longest heated build capacity in its class, supporting materials like Nylon 12CF, ASA, ABS, and new FDM ABS Draft. Early deployments focus on automotive tooling and inspection gauges, reducing machining lead times. The system will be showcased at IMTS 2026 in Chicago from September 14–19.
7203.JP · Technology · Positive Toyota Production Engineering is adopting the new F870 FDM system for automotive tooling and inspection gauges, a technology adoption that supports its manufacturing.
RIVN · Technology · Positive Rivian is adopting Stratasys's new F870 FDM platform for tooling and manufacturing aids, a product/technology development benefiting Rivian's production.
Rivian CFO Claire McDonough Departs for GE Vernova
Rivian Automotive's Chief Financial Officer Claire McDonough is stepping down at the end of October to join GE Vernova in the same role, Reuters reported on August 27, just as Rivian ramps up production of its cheaper R2 SUV amid fragile U.S. EV demand. McDonough will formally take the GE Vernova CFO seat on January 1, 2027, succeeding the retiring Ken Parks. Rivian said her exit is "not the result of any disagreement" and that she is relocating to the East Coast to be closer to family. McDonough joined Rivian in January 2021, led the company through its $13.7 billion IPO later that year, and helped structure its $5.8 billion Volkswagen Group joint venture. Derek Mulvey, Rivian's vice president of finance, will serve as interim CFO starting October 30 while the company runs a search for a permanent replacement. The news lands as Rivian scales the R2, its $45,000-to-$58,000 SUV that began customer deliveries in June, with the stock trading near $17, down more than 75% from its IPO price.
Ford's Fathom EV Pickup Targets 100,000 Sales in First Year
Ford Motor Company is gearing up to launch its Fathom electric pickup truck in 2027, aiming to sell 100,000 units in its first year, according to internal sources cited by the Wall Street Journal. This ambitious goal would make the Fathom one of the top-selling EVs in the U.S., trailing only Tesla's Model Y and Model 3, which are the only EVs to exceed 100,000 annual sales in the country. Ford's previous EV pickup, the F-150 Lightning, sold 27,307 units in 2025, outperforming Tesla's estimated 20,237 Cybertruck sales. The Fathom will start at $28,350, significantly undercutting rivals like the Cybertruck at $69,990, the Chevrolet Silverado at $55,985, and the Rivian R1T at $79,900. Preorders begin in early 2027, with deliveries expected later that year.
Rivian CFO Claire McDonough to Step Down, Interim CFO Named
Rivian Automotive announced that Chief Financial Officer Claire McDonough will step down from her role and exit the company, with Derek Mulvey appointed as interim CFO. McDonough, a key financial leader since Rivian's IPO, will remain CFO for about two months, through October 30, 2026, to ensure a smooth handover. The company, with a market cap of about $22.5 billion, is focusing on funding its R2 platform, managing cash burn, and improving margins as production scales. Investors will watch for a permanent CFO appointment and any updated guidance on funding, R2 spending, and profitability targets in upcoming earnings calls.
RIVN · Capital · Negative CFO departure creates leadership uncertainty and raises concerns about financial management during critical R2 funding and margin improvement phase.
Rivian CFO exits for GE Vernova as EV maker faces costly ramp
Rivian Automotive's chief financial officer, Claire McDonough, will step down on October 30 to become CFO of GE Vernova, a move that sent Rivian shares down 6% as the EV maker navigates its most capital-intensive period. McDonough, who spent nearly six years at Rivian, will join GE Vernova in November as a strategic advisor before formally taking the CFO role on January 1, succeeding Kenneth Parks. Rivian's vice president of finance, Derek Mulvey, will serve as interim CFO while the company searches for a permanent replacement. The departure comes as Rivian ramps production of its R2 SUV, builds a second factory in Georgia, and manages a net loss of $833 million and negative free cash flow of $849 million in the second quarter, with $5.3 billion in cash and short-term investments. McDonough helped negotiate Rivian's technology joint venture with Volkswagen, under which VW agreed to invest up to $5.8 billion, and the company has raised its 2026 delivery guidance to 65,000 to 70,000 vehicles. GE Vernova, spun off from General Electric in 2024, has an order backlog of $176 billion, benefiting from the AI infrastructure buildout.
GE Vernova Names Rivian CFO Claire McDonough as New Finance Chief
General Electric's energy unit GE Vernova has appointed Claire McDonough, currently CFO of electric vehicle maker Rivian, as its new Chief Financial Officer, effective January 2027. McDonough will leave Rivian to take the role, marking a key leadership change for the recently separated energy-focused business. The move brings experience from a fast-growing, technology-focused company to GE Vernova, which is entering a phase of capital-heavy energy projects, grid infrastructure, and decarbonization technology requiring tight financial discipline. Investors will watch for updated capital allocation and cash flow targets once McDonough assumes the role, as cash flows from the energy side can affect how GE funds next-generation engines and supply chain capacity at GE Aerospace.
EV Charging Station Market to Reach USD 120.85 Billion by 2033
MarketsandMarkets projects the EV charging station market will grow from USD 38.55 billion in 2026 to USD 120.85 billion by 2033 at a CAGR of 17.7%. The expansion is driven by OEM-led investments from Tesla, Rivian, and Hyundai, along with public and private capital from players such as ChargePoint and BP Pulse. Advancements in ultra-fast DC charging of 150 to 350 kilowatts are aligning with OEM migration toward 800-volt and 1,000-volt vehicle platforms. Asia Pacific is expected to be the largest region in 2026, with China projected to hold the largest share globally. Key players include ABB, BYD, ChargePoint, Tesla, and Siemens.
Rivian Automotive's stock has fallen 22% year-to-date, extending a slump since 2023 despite the launch of its R2 battery-electric SUV priced under $60,000. The company delivered 12,194 EVs last quarter, with revenue up 27% year over year to $1.66 billion, and swung from a gross loss of $206 million in Q2 2025 to a gross profit of $179 million in Q2 2026. Rivian is targeting annual production capacity of more than 400,000 R2 vehicles plus the eventual R3, and analysts expect full-year revenue growth to accelerate to 38.4% before rising to more than 59% next year. The company exclusively makes all-electric pickup trucks and SUVs that resemble combustion-powered counterparts, positioning it to capture demand in a market where SUVs and pickups dominate U.S. auto sales.
Rivian Automotive is closing the gap with Tesla in advanced driver-assistance technologies, making software a bigger part of its growth strategy. CNBC testing over hundreds of miles indicated Rivian's Autonomy+ technology was better than historical systems such as General Motors' Super Cruise, but Tesla's FSD was still more capable overall. Tesla navigated traffic signals, junctions, exit ramps and nearly 200 miles of combined highway and city driving with little assistance, while Rivian still needs driver input for some of these and can't change lanes by itself yet. Rivian plans to launch point-to-point driving later this year, moving Autonomy+ closer to what Tesla already offers today. Rivian's Autonomy+ subscription is priced at $49.99 per month, compared to Tesla's FSD subscription at $99 a month.
Ford reported second-quarter revenues of $48.3 billion, down 3.8% year on year and 2.6% below analyst expectations, though adjusted operating income and EPS beat estimates. The stock has fallen 6.5% since the report and trades at $14.00. Among the ten automobile manufacturing stocks tracked, Rivian posted the biggest analyst estimate beat with revenues of $1.66 billion, up 27.2% year on year, while Winnebago delivered the weakest performance with revenues of $698.7 million, down 9.9% year on year. General Motors reported revenues of $48.03 billion, up 1.9% year on year, and its stock is up 15.7% since reporting.
California's EV rebate exempts Tesla and Lucid from price cap
California's new MyFirstEV instant rebate program exempts automakers headquartered in the state that build only zero-emission vehicles from its $50,000 MSRP cap, effectively allowing Tesla and Lucid to qualify for the $3,500 incentive on vehicles priced well above that limit while competitors must comply. The program, announced by Governor Gavin Newsom on August 7, offers $3,500 off a new zero-emission vehicle and $1,750 off a used one at the point of sale, funded by $135.5 million from California Climate Investments' cap-and-trade revenue matched by participating automakers for a total $271 million pot. CARB's own FAQ states the program was created because the expiration of the $7,500 federal EV tax credit in September 2025 caused new ZEV registrations in California to drop 40.2% year over year in the first quarter of 2026. The price-cap exemption applies to any manufacturer headquartered in California that builds only zero-emission vehicles, which currently includes Tesla and Lucid and will include Rivian once it joins, while Hyundai, Kia, and others must stay under the $50,000 threshold. The rollout is staggered because CARB signs individual grant agreements with each automaker, who must front the discount and build point-of-sale systems, with Tesla, Hyundai, and Lucid going live first and Nissan and Volvo yet to commit to a date.
Rivian Automotive shares climb after earnings show higher sales and narrower losses
Rivian Automotive shares rose following its 30 July 2026 earnings update, which reported higher sales, reduced net losses, and a decision to defer major capital spending to preserve near-term flexibility. The stock last closed at $16.00, with a widely followed fair value estimate of $18.85, suggesting a 15.1% undervaluation. Vertical integration in autonomy, battery, and software, along with growing software and services revenue including licensing through partnerships like with Volkswagen, is expected to open new high-margin revenue streams. However, the company still faces risks from continued cash burn that could require further equity raises and competitive pressure in the crowded electric vehicle truck and SUV market.
Rivian R2 midsize EV delivers strong road test verdict
Rivian's R2 midsize electric SUV, the vehicle the company calls its most important ever, earns high marks in a road test, with the Performance trim delivering 656 horsepower and a 0-to-60 time of 3.6 seconds. The R2 is built on a cheaper platform aimed at the Tesla Model Y, priced at $61,000 in test-car trim and as low as $45,000 for the base model coming next year. The test car, a Performance trim with Catalina Cove paint, came to $61,485, while the Performance trim starts at $57,990. The EPA rates range at 330 miles from an 88-kWh battery, with real-world figures closer to 250 to 300 miles. The review praises ride quality from the semiactive adaptive damping suspension but notes the absence of Apple CarPlay as a drawback.
Rivian Begins R2 SUV Deliveries as Uber Plans to Buy Up to 50,000 Units
Rivian started shipping its R2 SUV in the U.S. in early June, with a starting price of $57,990. Uber plans to purchase up to 50,000 of those SUVs over the next few years, including an initial 10,000 fully autonomous R2 robotaxis and an option for 40,000 more in 2030. Uber also intends to invest up to $1.25 billion in Rivian through 2031, contingent on the company achieving autonomous driving milestones. Rivian expects its 2026 deliveries to surge to 65,000 to 67,000 vehicles as it ramps up R2 production, following an 18% drop to 42,247 deliveries in 2025.
Rivian Q2 Loss Narrows, Revenue Beats on Software Growth and Regulatory Credits
Rivian Automotive reported a second-quarter 2026 loss of 47 cents per share, narrower than the Zacks Consensus Estimate of a loss of 65 cents, while revenues rose 27% year over year to $1.66 billion and beat the consensus of $1.59 billion. Deliveries increased 14% to 12,194 vehicles, exceeding management's expectation of 9,000 to 11,000 units, driven by growth in electric delivery vans, R1 vehicles, and the start of external R2 deliveries in June. Software and services revenues climbed 37% to $515 million, with the Volkswagen joint venture contributing $308 million, or 60% of that segment, and generating a gross profit of $215 million at a 42% margin. The automotive gross loss narrowed sharply to $36 million from $335 million a year earlier, aided by higher volumes, regulatory-credit revenues, and an IEEPA tariff-refund receivable, though partly offset by about $100 million in incremental R2 ramp costs. Rivian raised its full-year delivery outlook to 65,000 to 70,000 vehicles, trimmed capital expenditure guidance to $1.7 to $1.8 billion, and ended the quarter with $5.31 billion in cash, cash equivalents, and short-term investments.
Rivian Stock Fell 12.3% in July After $1.2 Billion Share Sale
Rivian stock fell 12.3% in July after the electric vehicle company sold more than 75 million new shares at $15.50 per share, raising about $1.2 billion. The sale, which also includes an option for underwriters to purchase an additional 11.25 million shares, will fund general corporate purposes and equity contributions toward a U.S. Department of Energy loan. Investors reacted negatively to the dilution and the underlying cash burn, as Rivian’s 2026 capital expenditures are projected at $1.7 billion to $1.8 billion while it ramps up production of the lower-priced R2 vehicle. The company did report a second-quarter gross profit of $179 million, up from a $206 million loss a year earlier, and lowered its full-year spending guidance by $250 million at the midpoint. However, broader skepticism about EV demand and a consumer shift toward hybrids continue to weigh on the stock.
Rivian Cuts 2026 Capital Spending Guidance by $250 Million
Rivian Automotive has reduced its 2026 capital expenditure guidance by $250 million, setting a new expected range of $1.7 billion to $1.8 billion. The company reaffirmed its delivery target of 65,000 to 70,000 vehicles and attributed the cut to project efficiencies and timing of spend, with no anticipated downsides. The move comes as Rivian balances cost discipline with ambitious investments in AI and autonomy, including plans to develop in-house AI chips and pursue full self-driving capabilities. CEO RJ Scaringe emphasized a thoughtful approach to scaling the supply chain, particularly as the company prepares to ramp production of its R2 SUV, priced under $50,000.
Morgan Stanley keeps underweight on Rivian despite raising price target
Morgan Stanley raised its Rivian price target to $14 from $13 but maintained an underweight rating, even after the electric-vehicle maker reported second-quarter revenue of $1.658 billion and a $179 million gross profit. The firm splits its target into $8 a share for the auto business and $6 for software and services, reflecting a bet on future data monetization. Rivian shares fell more than 9% to $15.22 on Friday as investors focused on a $1.3 billion equity sale and rising component costs that threaten margins during the R2 production ramp. The company raised full-year delivery guidance to a range of 65,000 to 70,000 vehicles and trimmed planned capital spending by $250 million at the midpoint. Morgan Stanley is watching whether Rivian can launch point-to-point autonomy in select markets by year-end and whether the R2 can achieve positive gross margin as cheaper trims arrive in 2027.
Rivian CEO Says Chinese EV Makers Benefit from Zero Capital Cost
Rivian CEO RJ Scaringe said Chinese electric-vehicle manufacturers are hard to compete against because their capital cost is often zero, provided by local governments. Speaking on the automaker's second-quarter earnings call, Scaringe noted that while manufacturing approaches are similar, China enjoys much lower labor costs and a cost-of-capital advantage that dramatically reduces production expenses. He added that in a world of completely open trade, Rivian would optimize around the lowest input costs, but under current conditions the company believes certain components should be sourced from the United States. Rivian also disclosed a $250 million investment from Uber as part of a partnership targeting fully autonomous robotaxis by 2028, with Level 3 eyes-off driving planned for 2027. The company reported second-quarter revenue of $1.66 billion, up 27% year-over-year and above the $1.51 billion consensus, with a narrower-than-expected loss of 63 cents per share.
Uber has partnered with over 30 autonomous vehicle companies in two years
Uber has partnered with and made direct investments in more than 30 autonomous vehicle companies over the past two years, taking a global approach to building its AV empire. This unexpected deal, which was announced in March 2026, could be worth up to $1.25 billion for Rivian. Uber sold Uber ATG to Aurora, Jump to Lime, and Elevate to Joby Aviation in 2020, but retained equity stakes in all of them. The company's AV deals accelerated in 2024 and now span robotaxi services, autonomous delivery, and self-driving trucks across North America, Europe, Asia, and the Middle East.
Rivian Beats Q2 Revenue Estimate but Stock Falls on Cost Concerns
Rivian Automotive shares fell 9.57% to $15.22 on Friday despite reporting second-quarter revenue of $1.66 billion, which exceeded the estimated $1.51 billion. Investors focused on profitability concerns and broader electric vehicle market pressure, with trading volume reaching 53.9 million shares, about 52% above the three-month average. The company recently raised its 2026 vehicle delivery guidance to a range of 65,000 to 70,000 vehicles and began external deliveries of its next-generation R2 SUV, with CEO R.J. Scaringe noting record demo drive interest. However, fears of rising component costs and uncertain demand for the lower-priced R2 weighed on the stock, which has fallen 85% since its 2021 initial public offering.
Amazon shares surge 9% on strong cloud growth, Apple drops 4% after hours
Amazon shares jumped more than 9% in extended trading after the company reported better-than-expected second-quarter revenue and cloud growth, with its cloud segment revenue expanding 37% year over year, the fastest growth in 18 quarters. Apple shares fell more than 4% in volatile after-hours trading despite reporting stronger-than-expected fiscal third-quarter revenue driven by a 22% increase in iPhone sales. Coinbase slid more than 5% after posting a third straight quarterly loss of $359.5 million, or $1.36 per share, missing analyst estimates of a 17-cent loss, while revenue of $1.22 billion fell short of the $1.31 billion estimate. Rivian Automotive rose nearly 2% after reducing its 2026 spending plans and slightly narrowing forecasted losses this year, while reconfirming a delivery target of 65,000 to 70,000 vehicles. Reddit sank over 7% as CEO Steve Huffman described search-referral traffic from Google as choppy, even though the company beat second-quarter earnings estimates and issued guidance that sailed past expectations. First Solar gained more than 3% after reporting second-quarter earnings of $3.92 per share, beating the FactSet consensus estimate of $2.99, with revenue of $1.06 billion matching views.
Rivian Stock Has Outperformed Nvidia Over the Last Six Months
Rivian Automotive shares have outperformed Nvidia over the last six months, as the electric vehicle maker bets heavily on artificial intelligence for self-driving technology. Rivian is investing so aggressively in AI that it no longer expects to reach profitability in 2027, focusing on autonomous driving as a key long-term differentiator. The company recently secured a $1.25 billion deal to supply up to 50,000 R2 SUVs to Uber Technologies for its robotaxi fleet, though Rivian does not plan to operate its own robotaxi service. With a market value under $25 billion, Rivian is far smaller than Nvidia’s $4.8 trillion valuation, potentially offering greater upside if its AI strategy succeeds. The company’s growth this year is expected to be driven by rising sales of the R2 SUV, its first electric vehicle priced below $50,000.
Tesla Salvage Listings Surge Sevenfold Since 2019, Command Triple the Market Median Price
A Better Bid reports that Tesla salvage listings on its platform have surged sevenfold since 2019, with the brand now accounting for 2.34% of all inventory in the first half of 2026. The median winning price for a wrecked Tesla reached $10,700, nearly triple the platform-wide median of $3,850, driven by global demand for battery modules and electric drive units. Front-end collisions dominated the 367 recorded Tesla lots, making up 162 of the total, while competing EV brands like Rivian, Polestar, and Lucid remained virtually absent from the auction blocks. The data, drawn from internal records spanning January 2019 through June 2026, highlights a single-brand salvage ecosystem where high-tech wrecks are treated as valuable assets rather than scrap.
TSLA · Demand · Positive Tesla salvage listings surged sevenfold and command triple the median price, driven by global demand for battery modules and electric drive units.
LCID · Demand · Negative Lucid is virtually absent from salvage auctions, indicating low demand for its battery modules and drive units compared to Tesla.
RIVN · Demand · Negative Rivian is virtually absent from salvage auctions, indicating low demand for its battery modules and drive units compared to Tesla.
Uber to Invest up to $1.2 Billion in Rivian and Purchase up to 50,000 R2 Robotaxis
Uber Technologies has agreed to invest up to $1.2 billion in Rivian Automotive through 2031, contingent on Rivian meeting certain performance milestones, and plans to purchase up to 50,000 of Rivian's R2 vehicles for its robotaxi fleet. Uber or its fleet partners will initially order 10,000 R2 robotaxis, with the right to buy up to 40,000 more by 2030. The rollout is scheduled to begin in Miami and San Francisco in 2028, expanding to 25 cities by 2031. The deal could help Rivian gain credibility in the autonomous vehicle market, which Goldman Sachs Group projects will reach $415 billion globally by 2035. Rivian, which reported net losses of $3.6 billion in 2025 and $4.7 billion in 2024, is building a Georgia plant expected to start production in 2028 as it works to scale up and reach profitability.
Volkswagen engineers charged with insider trading tied to Rivian joint venture
The U.S. Department of Justice has charged two Volkswagen engineers with securities fraud for an alleged insider-trading scheme connected to the German automaker's joint venture with Rivian. The indictment alleges that Michael Stamp and Marcus Plank made more than $300,000 in illegal profits by purchasing Rivian stock and options after learning of the planned joint venture, codenamed Project Climb, but before the public announcement on June 25, 2024. Following the announcement, Rivian's stock price rose 23%, and the pair sold their positions, with Stamp realizing about $250,000, Plank about $50,000, and a close family member of Plank about $12,000. The joint venture, initially involving a $5 billion commitment from Volkswagen, has since grown to $5.8 billion, making Volkswagen Rivian's largest shareholder. Stamp and Plank were arrested in San Jose and face up to 25 years in prison if convicted.
RIVN · Capital · Positive The joint venture with Volkswagen, now $5.8B, makes VW largest shareholder; stock rose 23% on announcement.
VOW.XETRA · Regulation · Negative Two Volkswagen engineers charged with insider trading tied to the Rivian joint venture, facing up to 25 years in prison.
VOW3.XETRA · Regulation · Negative Two Volkswagen engineers charged with insider trading tied to the Rivian joint venture, facing up to 25 years in prison.
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