Rivian
RJ Scaringe
Overview
Rivian is an American automotive technology company that sells the R1T pickup, R1S SUV and Commercial Van while preparing the R2 midsize platform for customer deliveries in the second quarter of 2026. The business is increasingly split between vehicle manufacturing and higher-margin software and services: Rivian generated $5.387 billion of revenue in 2025, posted $144 million of full-year gross profit and sharply expanded software revenue through its Volkswagen joint venture. Alongside its consumer and fleet vehicles, Rivian is also investing heavily in in-house autonomy and AI as it tries to broaden from an EV manufacturer into a larger transportation technology platform.
Main Products
All-electric midsize pickup truck with quad-motor AWD, up to 400+ miles of range, and adventure-focused features like a gear tunnel and camp kitchen option. First electric pickup truck to market.
In production since September 2021 at Normal, IL. Second-generation (Gen 2) with updated interior, new in-house drive units, and improved efficiency launched in 2024.
All-electric midsize SUV sharing the R1T's skateboard platform, offering three rows of seating, up to 400+ miles of range, and robust off-road capability.
In production since late 2022 at Normal, IL. Gen 2 update launched in 2024 with same drivetrain and software improvements as the R1T.
Midsize SUV on Rivian's new platform, positioned below the R1 line and designed to drive much higher unit volumes. Rivian has now published staged trims rather than a single placeholder launch price, with higher-end versions coming first and lower-cost variants following in 2027.
Reservations are open. R2 Performance is slated for spring 2026, R2 Premium for late 2026, and R2 Standard for 2027; an additional roughly $45,000 variant is planned for late 2027.
Purpose-built electric delivery van platform derived from the Amazon EDV program and now marketed to a wider range of fleet operators for last-mile logistics and specialty upfits.
In production since 2022. Sales opened to U.S. business customers in February 2025 after initial Amazon-focused deployments, and Rivian has since highlighted broader fleet and specialty-vehicle use cases.
What's Next
Autonomy milestones for the Uber partnership
Launch Rivian's next-generation autonomy stack in the R2 and hit the performance milestones tied to Uber's up-to-$1.25B investment and planned 2028 robotaxi rollout. This is the clearest signal that Rivian wants autonomy to become a major business line rather than just an ADAS feature set.
Operations & Revenue
Producing R1 vehicles and Commercial Vans at Normal, Illinois while converting the plant for the R2 launch. Rivian remains EBITDA-negative, but ended 2025 with positive consolidated gross profit and is using its Volkswagen software partnership plus a broader service and fleet footprint to support the next scale phase.
Revenue Streams
R1T pickup and R1S SUV sales remain Rivian's core automotive business, with the R2 expected to broaden the addressable market materially once deliveries begin.