Rivian’s R2 just helped it set a new sales record
Rivian reported record-breaking sales in the third quarter, driven largely by the launch of its more affordable R2 SUV. The company is scaling production in Illinois and planning a new factory in Georgia to meet high demand and reach profitability.
Why it matters
Rivian's ability to successfully transition to mass-market vehicles is critical for its long-term financial survival and its competition with established EV leaders like Tesla.
Rivian sold more electric vehicles than ever in the third quarter, thanks in large part to the launch of its new, more affordable R2 SUV.
The company said Friday morning that it built 19,751 vehicles and delivered 19,248. That’s roughly 45% more than it delivered in the same period last year.
While Rivian didn’t break out how many of those were R2 SUVs, this was the first full quarter of sales of the new vehicle after it launched in June. The company said Friday that it will release its full third-quarter financial results on October 29.
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