Rivian’s R2 SUV becomes best-selling vehicle as revenue rises

Rivian's R2 SUV has become the company's best-selling vehicle in the third quarter, according to TechCrunch. The automaker raised its delivery guidance for 2026, increasing the expected minimum deliveries to 67,000 vehicles, marking the second upward revision this year.

The R2 SUV, launched in June, represents a strategic move by Rivian to scale production quickly with a lower-cost electric vehicle aimed at capturing a broader customer base. This comes despite the loss of the $7,500 federal EV tax credit and changes in U.S. regulations that have shifted some automakers' focus away from pure electric vehicles.

Rivian reported building 19,751 vehicles and delivering 19,248 in the third quarter, a 45% increase compared to the same period last year. The company views the R2 as an attractively priced option that fills a market gap for high-quality EVs.

Financially, Rivian's third quarter revenue reached $2.155 billion, a 38% increase from Q3 2025, with automotive revenue up 36% year over year. Software and subscription services revenue also grew by 45%, totaling $605 million, highlighting the importance of digital products and licensing deals, including a partnership with Volkswagen, to the company's financial health.

The company reported a gross profit of $176 million for the quarter, a significant improvement of $152 million compared to the previous year, reflecting better financial performance as vehicle deliveries increase.