Rivian Automotive announced on Thursday that it exceeded Wall Street’s expectations for the fourth quarter, projecting substantial growth in vehicle deliveries for 2026. The automaker aims to deliver between 62,000 and 67,000 vehicles next year, representing an increase of 47% to 59% over 2025, largely supported by the anticipated launch of the R2 SUV in the second quarter.
CEO RJ Scaringe stated that the R2 is expected to become the majority of the company’s volume by the end of 2027 as production ramps up at Rivian’s factory located in Normal, Illinois. However, Rivian cautioned that losses will persist as it invests heavily in the development of the R2. For 2026, Rivian forecasts adjusted pre-tax losses in the range of $1.8 billion to $2.1 billion and capital expenditures totaling between $1.95 billion and $2.05 billion.
While the company achieved its first annual gross profit of $144 million in 2025, it anticipates a challenging year ahead, with CFO Claire McDonough labeling it a “transition year.” Rivian’s net loss narrowed to $3.6 billion last year, down from $4.75 billion in 2024, partially driven by a decrease in earnings from regulatory credits.
As of the end of the fourth quarter, Rivian had a liquidity position of $6.59 billion, including approximately $6.1 billion in cash and short-term investments, crucial for financing its ambitious plans. The R2, positioned at around $45,000, is expected to streamline production and significantly enhance demand.
Despite successful strides with its first-generation R1 vehicles, Rivian faces a challenging market for high-priced electric vehicles, which has experienced a slowdown.
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