Rivian R2 Sales Drive Revenue Up, Narrowing Year-Over-Year Losses -- WSJ

By Patrick George

The Rivian R2 is doing its job.

The new SUV is already the California-based startup's bestselling vehicle, Rivian officials said. The R2's sales momentum drove the company to a 38% year-over-year increase in revenue. Still, the automaker posted a net loss of $913 million in the third quarter, although that was down from a $1.17 billion loss a year prior.

Rivian doesn't break out model-by-model sales but said it delivered a record 19,248 vehicles in the third quarter, up 46% from last year. The company upgraded its 2026 guidance for both sales and adjusted earnings.

The R2, which currently starts around $58,000, is meant to be a more popular mainstream EV than older models that can sometimes exceed $100,000.

Chief Executive RJ Scaringe said that the R2 is bringing in new customers for Rivian who are coming from many other car brands. "It's certainly well beyond existing EV customers, which is the goal," he said. "It's everything from BMWs and Land Rovers to Jeeps and Fords to Toyota Fords and everything in between."

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October 29, 2026 16:20 ET (20:20 GMT)