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Key Takeaways
- Rivian shares jumped more than 25% Friday after the electric vehicle maker reported better-than-expected quarterly results and issued a rosy outlook for sales growth.
- Plans to launch its R2 SUV are still on track for the second quarter, and Rivian said it will announce details about the R2 and other products at an event on March 12.
A solid fourth quarter and ambitious plans for 2026 sent Rivian stock soaring Friday.
Rivian (RIVN) shares jumped more than 25% after the electric vehicle maker narrowly topped revenue estimates at $1.29 billion, while recording a smaller adjusted loss than analysts had forecast at 54 cents per share.
The company said its plans to start selling the R2, an SUV that will be cheaper than its current vehicles, remain on track for the second quarter. Rivian said that more details about its product lineup will be coming at a March 12 event.
Rivian expects to deliver between 62,000 and 67,000 vehicles this year, a more than 50% jump at the midpoint from the 42,247 it delivered in 2025. The company hopes software upgrades and its new model can help drive demand that has slowed in the U.S. after the Trump administration allowed EV tax credits to expire last September.
Wedbush analysts said they remain confident in Rivian’s long-term plan and said the EV maker is in the midst of a “massive transformation” as it looks to streamline production of its R1 vehicles and ramp production of R2s this year. Wedbush has an “outperform” rating on the stock and a $25 price target.
Rivian shares rose 27% to close Friday’s session at $17.73. Despite today’s surge, the stock is still down 10% since the start of 2026 after hitting its highest level in two years in December.
UPDATE: This article has been updated to reflect closing share price information.
