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Rivian

All articles tagged with #rivian

business4 days ago•5 min saved

Rivian taps market for $1.5B to fund R2 ramp

Rivian announced an underwritten public offering of 75 million shares to raise about $1.5 billion (potentially ~$1.7B if underwriters exercise their option for up to 11.25 million additional shares), following a strong Q2 delivery beat and raised full-year guidance. The deal would dilute existing shareholders by roughly 6%. Proceeds are intended to fund the R2 ramp and related DOE loan equity obligations, giving Rivian more runway to scale production.

via Electrek|

#business #dilution #equity-offering

business4 days ago•18 min saved

Rivian slides after announcing 75M-share offering and Q2 revenue preview

Rivian (RIVN) stock fell after the company announced a 75 million-share offering of Class A common stock, with underwriters able to buy up to 11.25 million additional shares, potentially raising about $1.5 billion (up to roughly $1.7 billion with the overallotment). Proceeds will be used for general corporate purposes including equity contributions tied to its DOE loan for the Georgia manufacturing plant. The company also preannounced Q2 revenue of about $1.55–$1.65 billion, up from $1.30 billion a year earlier, driven by higher deliveries but offset by lower average selling prices due to a higher mix of commercial vans; cash, cash equivalents, and short-term investments were around $5.3 billion as of June 30. Rivian reported Q2 production of 12,613 vehicles and deliveries of 12,194, and lifted full-year 2026 delivery guidance to 65,000–70,000 vehicles; full Q2 results are due after the bell on July 30.

via Yahoo Finance UK|

#business #electric-vehicles #equity-offering

business4 days ago•16 min saved

Rivian to raise up to $1.7B via 75-million-share offering as Q2 revenue pre-announced

Rivian Automotive said it will offer 75 million shares of Class A common stock (with an underwriter option for up to 11.25 million more), aiming to raise about $1.5-1.7 billion with proceeds for general corporate purposes including equity contributions tied to its DOE loan; the stock dropped around 11% in early trading. The company also preannounced Q2 revenue of $1.55-1.65 billion, up from $1.30 billion a year earlier, driven by higher vehicle deliveries but offset by lower average selling prices due to a higher mix of commercial vans, and cash and equivalents were about $5.3 billion as of June 30. Rivian had previously reported Q2 production of 12,613 and deliveries of 12,194 and raised its 2026 delivery guidance to 65,000-70,000 vehicles; full results are due after the market close on July 30.

via Yahoo Finance|

#business #delivery-guidance #q2-revenue

business4 days ago•1 min saved

Rivian to raise about $1.5B via 75 million-share offering, sending stock lower

Rivian stock fell about 10% in premarket trading after the EV maker announced a public offering of 75 million shares, aiming to raise roughly $1.5 billion to fund equity contributions under a U.S. Department of Energy loan. The company also pre-released Q2 revenue guidance of $1.55–$1.65 billion (above consensus) and reported a cash balance around $5.3 billion. Underwriters have the option to purchase up to 11.25 million additional shares. This move comes as Rivian shifts away from a 2027 profitability target amid higher R&D spending for autonomy and the launch of the R2 SUV, with profitability expected later this decade.

via CNBC|

#business #capital-raise #doe-loan

business9 days ago•3 min saved

Rivian Beats Q2 Deliveries, Lifts Full-Year 2026 Outlook

Rivian posted Q2 2026 production of 12,613 vehicles and deliveries of 12,194 (above its 9,000–11,000 forecast), and raised its full-year 2026 delivery guidance to 65,000–70,000 vehicles, signaling improved supply and stronger demand; Q2 results are due July 30 with an accompanying webcast.

via Electrek|

#business #deliveries #ev

business9 days ago•1 min saved

Rivian nudges 2026 EV target higher on strong Q2 demand

Rivian raised its 2026 delivery outlook to 65,000–70,000 vehicles after stronger-than-expected Q2 demand, with Q2 production of 12,613 and deliveries of 12,194. Growth was driven by the electric delivery van and the flagship R1 lineup, plus the start of R2 midsize SUV deliveries and ramp-up at its Normal, Illinois plant with 160,000 annual capacity. The company will report Q2 results on July 30 as rivals Tesla and Lucid prepare to disclose their numbers.

via CNBC|

#business #delivery #ev

technology9 days ago•108 min saved

Rivian bets big on R2 as tornado tests its factory

Rivian’s push to scale the affordable R2 is tested by a tornado that damaged its Normal, Illinois factory just as the EV market cools and policy shifts bite; the company bets on vertical integration, in-house software, and a VW partnership to carry it to mass production, but success now hinges on the R2 delivering volume and profitability amid supply-chain volatility and competition.

via The Verge|

#ev #factory #r2

technology11 days ago•4 min saved

California’s EV incentive carves out Rivian and Lucid

California lawmakers are allocating $135 million for a new cash-on-the-hood EV incentive aimed at first-time buyers, with price caps of $50,000 for new and $25,000 for used vehicles. A key carve-out lets California-headquartered EV makers like Rivian and Lucid qualify regardless of price, effectively bypassing the caps for those manufacturers. The program, designed to fill the gap left by the federal $7,500 tax credit, will be designed by CARB with manufacturers contributing half of each incentive, and includes additional funds to boost sales of heavy-duty EVs. The plan could face pushback from other automakers such as Tesla, which isn’t included in the carve-out.

via InsideEVs|

#california #carmakers #ev-incentives

business24 days ago•2 min saved

Rivian Cuts About 300 Jobs as R2 Takes the Stage

Rivian announced layoffs of roughly 300 employees (about 2% of its workforce) as it begins delivering the R2 and pursues profitable growth, with cuts focused on service, customer, and go-to-market teams; the EV maker has yet to post an annual profit and is planning a Georgia plant to reach up to 300,000 vehicles per year by 2028.

via InsideEVs|

#business #georgia-plant #layoffs

business25 days ago•6 min saved

Rivian downsizes customer-facing teams as R2 launches

Rivian laid off hundreds—less than 2% of its workforce, primarily from service and customer-facing roles—just a week after starting R2 deliveries, the fourth round of cuts since 2024 as it seeks profitability amid heavy losses and a high-stakes mass-market launch. The move comes as Uber plans a substantial investment in Rivian and its autonomy program, highlighting investor pressure even as the company ramps the R2.

via Electrek|

#business #layoffs #profitability

business25 days ago•2 min saved

Rivian trims workforce as R2 rollout targets profitability

Rivian is laying off hundreds of workers—under 2% of its staff—as it scales the R2 SUV rollout and pursues profitability, following a $3.6 billion loss last year and ongoing restructuring that affected service and customer teams.

via CNBC|

#business #electric-vehicles #layoffs

technology28 days ago•4 min saved

Rivian bets on a separate Mind Robotics to pioneer humanoids

Rivian CEO RJ Scaringe has launched Mind Robotics as a standalone company with over $1 billion in funding to develop humanoid robots, with Rivian as a major shareholder and launch customer. Mind aims to reveal its first product within a year, while Scaringe says the unit will stay separate from Rivian. He envisions robots working alongside human manufacturing teams, using Rivian data to train AI, and notes a long‑term automation shift—though Musk’s Tesla/AI strategy remains a contrasting approach.

via CNBC|

#ai-training-data #humanoid-robots #mind-robotics

technology28 days ago•3 min saved

Rivian Maps a Bold EV Roadmap: R2 Arrives, R3X Targeted for 2028, R4 in the Wings

Rivian confirms the R2 is arriving in US driveways and teases a broader plan, with the R3X planned for around 2028 ahead of a standard R3; a Georgia factory ramp is tied to the timeline, and while Rivian has floated variants like an R2T, the company says the immediate focus remains on the R2 and exploring multiple possibilities for future models.

via InsideEVs|

#ev #r2 #r3x

technology28 days ago•3 min saved

Rivian R2 Starts Deliveries with a Hidden Spare Tire

Rivian has begun delivering the R2 and launched its official Gear Shop, offering a $755 compact spare tire that fits under the trunk floor (with no built-in compressor) alongside other accessories. The first shipments are the top-spec Performance with Launch Package, delivering up to 656 hp, 0-60 mph in 3.6 seconds, and about 330 miles of EPA range from an 87.9 kWh pack, with more affordable Standard versions arriving later in 2027.

via InsideEVs|

#accessories #ev #r2

business29 days ago•13 min saved

Rivian's R2 Test-Drive Becomes Bullish Indicator, Analyst Says TAM Expands

Needham reiterates a Buy on Rivian with a $23 target, arguing the R2 launch is TAM-expanding and could bring new buyers into Rivian’s ecosystem; catalysts include point-to-point navigation, a LiDAR-enabled hands-free variant, and cheaper R2 trims. Rivian says missing features on the initial R2 rollout were delayed for quality and will arrive via monthly OTA updates this summer. With R2 deliveries underway, the stock rose about 1% in overnight trading as investors are encouraged to test-drive the vehicle rather than rely on broad EV adoption alone, supporting a bullish longer-term view despite near-term volatility.

via Yahoo Finance|

#autonomy #business #needham