Overview
- The company now expects 41,500–43,500 deliveries in 2025, below 2023 and 2024 totals and down from earlier targets of roughly 51,000 then 40,000–46,000.
- Q3 was the year's strongest quarter with 13,201 deliveries and 10,720 vehicles produced in Normal, Illinois, a nearly 32% jump in deliveries.
- Rivian said the quarter benefited from U.S. buyers rushing to secure expiring tax credits, including through leasing.
- The lowered outlook and demand concerns for the R1T and R1S pushed the stock down nearly 10%.
- Rivian is counting on the mid-size R2, slated for the first half of 2026 at about $45,000 and initially built in Normal before shifting to Georgia, which CEO RJ Scaringe says must succeed.