NewsLos Angeles TimesOctober 30, 2026Los Angeles County
Rivian shares rally 6% as third-quarter revenue climbs to $2.15 billion
Photo: Los Angeles Times
Rivian shares surged more than 6% to close at $12.16 on Friday after the electric-vehicle manufacturer reported third-quarter revenue of $2.15 billion, a 38% increase from last year. The company posted an automotive gross loss of $80 million for the quarter, an improvement from a $130 million loss in the same period last year, driven by higher delivery volumes and improved per-unit margins.
Read the full story at Los Angeles TimesWhy It Matters
The company's financial results and production metrics directly affect investors, industry supply chains, and consumers evaluating electric-vehicle pricing options as Rivian prepares to release lower-cost models.
Key Facts
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Who's Mentioned
otherR2“Launched in June, best-selling vehicle by volume in the quarter”OrganizationFord“Legacy automaker”locationIrvine“Irvine-based manufacturer”PersonChris Pierce“Analyst at Needham & Company who said Rivian is closing the gap with Tesla”OrganizationTesla“Firmly ahead of the pack with its autonomous software capabilities”locationNormal“Produced vehicles at its facility in Normal, Ill.”OrganizationRivian“Irvine-based manufacturer that posted $2.15 billion in third-quarter revenue”PersonRJ Scaringe“Chief Executive who said Rivian is targeting positive automotive gross profits b”OrganizationNeedham & Company“Analyst firm”OrganizationGM“Legacy automaker”OrganizationMorningstar“Analyst firm”PersonSeth Goldstein“Morningstar analyst who commented on R2 production ramping up”