Rivian has achieved a new sales milestone in the third quarter of 2026, largely driven by the launch of its more affordable electric SUV, the R2. The company reported building 19,751 vehicles and delivering 19,248 during this period, marking a 45% increase over the same timeframe last year. Although Rivian has not provided a specific breakdown of R2 sales, this quarter represents the first full sales cycle since the R2's launch in June.

The R2 SUV, starting just under $60,000, is central to Rivian’s ambitious sales goals. The automaker expects to sell between 20,000 and 25,000 units of the R2 by year-end, a pace that would make it one of the fastest-selling electric vehicles in U.S. history, second only to Tesla's Model Y. Rivian also plans to introduce more budget-friendly models around $45,000 to broaden its market appeal.

Production of the R2 currently takes place at Rivian's factory in Normal, Illinois, which recently expanded to accommodate the new model. In addition, Rivian is constructing a large new manufacturing facility near Atlanta, Georgia, with the capacity to produce up to 300,000 vehicles annually. This expansion is part of Rivian’s effort to scale up production and meet growing demand.

Rivian’s financial outlook depends heavily on the success of the R2, as the company works to recover from sustained losses fueled by investment in infrastructure for mass-market EV production. A key part of Rivian’s future strategy is a partnership with Uber to develop autonomous robotaxi versions of the R2, a market Rivian sees as significant enough to have pushed back its profitability target from 2027 in order to invest more heavily in autonomous technology. Full third-quarter financial results are expected on October 29.