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Rivian Automotive reported record third-quarter deliveries on Friday, beating analysts\u2019 estimates after rolling out its cheaper \u200bR2 SUV targeted at a broader section of the \u200cmass EV market.<\/strong><\/p>\n Shares of the Irvine, California-based EV maker were up about 1.4% in premarket trading.<\/p>\n The R2, for which deliveries began in June, is \u200bseen by analysts as critical to Rivian\u2019s growth strategy, \u200bas the electric vehicle sector navigates a challenging \u2060US policy environment marked by the end of federal EV \u200btax credits, tariffs and weaker industry-wide demand.<\/p>\n Before the R2, the \u200bEV maker\u2019s consumer lineup featured the R1S SUV and R1T pickup truck, both positioned as premium models.<\/p>\n Rivian delivered a record 19,248 vehicles in the \u200bquarter ended September 30, beating analysts\u2019 average estimate of \u200b18,001 vehicles, according to data compiled by Visible Alpha.<\/p>\n The company also reaffirmed \u200cits \u20602026 delivery forecast of 65,000 to 70,000 vehicles, saying quarterly production and deliveries were in line with its expectations. Analysts on average estimate the EV maker will deliver 66,685 vehicles in \u200b2026.<\/p>\n Rivian produced \u200b19,751 vehicles at \u2060its manufacturing facility in Normal, Illinois, during the quarter.<\/p>\n The EV maker raised its annual delivery forecast \u200bin July, citing stronger-than-expected demand for the model. Rivian is scheduled to report third-quarter financial results on \u200bOctober 29.<\/p>\n<\/div>\n
It \u200balso \u2060struck a long-term partnership with Uber in March, under which the ride-hailing firm agreed to invest up to $1.25 billion in the EV \u2060maker \u200band begin deploying fully autonomous R2 \u200bSUVs as robotaxis from 2028.<\/p>\n