Rivian sees deliveries tail off in Q2 as it preps for 2026 model introductions

Rivian Automotive (NASDAQ:RIVN) fell in early trading after announcing production and delivery totals for the second quarter. The electric vehicle upstart said it produced 5,979 vehicles at its manufacturing facility in Normal, Illinois and delivered 10,661 vehicles during the same period. Both those marks were well below the Q2 tallies from a year ago.

Rivian (NASDAQ:RIVN) noted that production was limited during the second quarter in preparation for model year 2026 vehicles expected to launch later this month.

Production and delivery results for the quarter were highlighted as being in line with Rivian’s (NASDAQ:RIVN) prior outlook. Notably, Rivian (RIVN) reaffirmed its 2025 delivery guidance range of 40,000 vehicles to 46,000 vehicles.

On the financial front, Rivian disclosed that it received a $1 billion equity investment from Volkswagen Group (OTCPK:VLKAF) at an effective price of $19.42, which represents a 33% premium to the $14.56 30-trading day volume-weighted average stock price. The investment, which was based on the company hitting profit targets, is part of the $5.8 billion agreement associated with the Rivian (RIVN) and Volkswagen Group (OTCPK:VLKAF) technology joint venture.

Rivian Automotive (RIVN) also announced that it will release its full Q2 earnings report on August 5.

Shares of Rivian (RIVN) were down 2.3% at 9:55 a.m. The EV stock is down about 1% on a year-to-date basis. Short interest on RIVN stands at 13.3% of the total float.