Rivian produced 12,613 units at its Normal, Illinois facility between April and June, successfully delivering 12,194 of them. This performance outperformed the company's previous guidance of 9,000 to 11,000 deliveries. Executives credited the surge to steady demand for its electric cargo vans and the flagship R1 consumer line, bolstered by the initial rollout of the R2 SUV.

The R2 is central to the company’s push toward annual profitability. With a starting price near $58,000, it marks a strategic shift toward more accessible pricing compared to the R1S and R1T models, which can reach $100,000. Investors responded positively to the news, pushing shares up 4.5% to $17.95 in premarket trading. Full second-quarter financial results are scheduled for release on July 30.