Rivian trims 2026 spend, sticks to R2-driven profitability path
Rivian reduced its 2026 spending and narrowed its expected losses while keeping the 65,000–70,000 vehicle delivery target. In Q2, revenue rose to $1.66 billion with an adjusted loss per share of 47 cents and a gross profit of $179 million, as its software and services segment posted a profit and the R2 midsize SUV began deliveries. The company aims for profitability on a per‑unit basis with the R2 but will need more scale than 160,000 annual R2 units to achieve it. Cash stood at about $5.3 billion, with expected $1 billion in non-recourse VW debt financing and $250 million in equity from Uber this year.
