Rivian (RIVN, Financials) edged lower Tuesday after reporting weaker-than-expected Q2 production; the EV maker built just 5,979 vehicles at its Illinois plant—well short of Wall Street's 11,300+ estimate. The company cited downtime tied to prepping for its 2026 models, expected to launch later this month.
Deliveries came in at 10,661; not far off from the 10,910 analysts projected. Despite the gap, Rivian said results were in line with internal expectations; full-year delivery guidance remains unchanged at 40,000 to 46,000 units.
The update comes on the heels of a $1 billion equity investment from Volkswagen; shares were priced at $19.42—a 33% premium to Rivian's 30-day average. The deal is part of a broader $5.8 billion tech JV between the two companies.
Rivian posted positive gross profit last quarter; its second in a row. All eyes now shift to the 2026 launch—and how quickly production ramps back up.
