Rivian raises 2026 delivery forecast as R2 demand boosts shares

Rivian raised its 2026 delivery forecast after stronger-than-expected demand for its trucks, vans and new R2 SUV, a move that sent the stock more than 10% higher as investors looked for proof that EV buyers are still willing to spend. The company now expects to deliver 65,000 to 70,000 vehicles this year, up from its prior range of 62,000 to 67,000, and the R2 is already starting to shape its sales mix.

Second-quarter deliveries rose more than 14% from a year earlier to 12,194 vehicles, beating Visible Alpha’s estimate of 10,518. Rivian also produced 12,613 vehicles in the quarter. Demand was robust across its electric delivery vans, R1 SUVs and pickup trucks, while R2 customer deliveries began in June.

Rivian must deliver roughly 45,000 more vehicles over the rest of the year to reach the midpoint of the new target. Rivian had already reaffirmed full-year guidance at 62,000 to 67,000 vehicles after delivering 10,365 vehicles in the first quarter, and it closed 2025 with 42,247 deliveries, below earlier expectations but within its revised annual plan.

Rivian is leaning heavily on the R2 to broaden its customer base. Rivian priced the R2 Launch Package at $57,990, with a premium version due later in 2026, a rear-wheel-drive model expected early next year and a $45,000 version slated for late 2027. The SUV is meant to compete with Tesla’s Model Y and give Rivian a lower-priced entry point in a market where affordability has become a central concern after federal EV tax credits expired last year.

The model is a mid-size electric SUV designed to bring its design and technology to a broader audience, and it has already drawn outside interest: Uber announced on March 19 that it could invest up to $1.25 billion in Rivian through 2031, with plans to deploy 10,000 fully autonomous R2 robotaxis starting in San Francisco and Miami in 2028, and an option for up to 40,000 more in 2030. Rivian will report second-quarter financial results on July 30 after the market closes.