Rivian Automotive reported Q1 2026 revenue of $1.38 billion, surpassing estimates thanks to a 20% rise in vehicle deliveries and a 49% jump in software and services revenue. The company began scalable production of its R2 model, with employee deliveries underway and customer deliveries expected soon. Rivian also expanded its Georgia plant capacity by 50% and secured a $4.5 billion Department of Energy loan. Partnerships with Uber and Volkswagen, including a $1.25 billion Uber investment and a $1 billion Volkswagen equity stake, validate Rivian's tech and AI strategy. The company reaffirmed its full-year delivery and financial guidance despite a Q1 adjusted EBITDA loss of $472 million, better than expected.
Rivian is accelerating its R2 mass-market vehicle production, targeting two production shifts by the end of 2026 to increase volumes and improve gross margins through cost reductions. Its software and services revenue jumped nearly 49% year-over-year...
The Greenwich Concours celebrates its 30th anniversary from May 29-31 in Greenwich, Connecticut, showcasing over 300 rare and iconic cars, including restored classics by Paul Russell. The event features a mix of judged car classes, driving experience...
