Stock Market Today, May 29: Rivian Automotive Jumps on R2 SUV Launch Confirmation

Rivian said it expanded capacity at its Georgia plant to 300,000 vehicles, received an additional $1 billion in cash from Volkswagen, and began delivering the first batch of its mass-market R2 trucks to employees. The company aims to scale production to reach sustainable profitability; it expects the first advance on a $4.5 billion U.S. government loan in early 2027.

Rivian says it has expanded capacity at its Georgia plant to 300,000 vehicles and received an additional $1 billion in cash from Volkswagen. The company also began delivering the first batch of its mass-market R2 trucks to employees. Rivian aims to scale production to reach sustainable profitability, with an expected first advance on a $4.5 billion U.S. loan in early 2027.

Rivian CEO RJ Scaringe, an owner of a Tesla Model Y, says Rivian’s R2 SUV could match Tesla’s energy efficiency. The U.S. EPA certification cited by the article shows Rivian R2 Performance AWD at 105 MPGe and 32 kWh/100 miles, with 330-mile range vs Tesla Model Y Performance at 105 MPGe, 32 kWh/100 miles, and 306 miles. Rivian plans R2 order invitations starting June 9, with deliveries 2–6 weeks later, and is expanding Georgia capacity to 300,000 units/year.

Rivian software chief R. Bensaid said on The Verge’s “Decoder” podcast that Rivian is pursuing end-to-end in-car interface integration rather than screen mirroring, arguing it avoids taking over all pixels. He said deep AI integration could make CarPlay and Android Auto “obsolete” over time via an AI agent. Rivian data cited: CarPlay demand fell from over 70% at launch to below 25% in a recent survey.

Rivian plans to launch the R2, a smaller, lower-priced SUV, and its EPA figures place it close to Tesla’s 2026 Model Y Performance on efficiency and range. The R2 Performance is rated 105 MPGe combined and 32 kWh/100 miles, with about 330 miles range, versus the Model Y’s 105 MPGe, 32 kWh/100 miles, and 306 miles. Prices start at $57,990 (R2) vs $57,490 (Model Y).

Nio reported Q1 2026 vehicle deliveries of 83,465, up 98.3% year over year, and vehicle sales revenue up 129.2% to 22,783 million yuan (about $3.3 billion), according to the company. Vehicle margin rose to nearly 19% versus 10.2% a year earlier, lifting gross margin to 19% from 7.6%. Adjusted operating profit excluding share-based compensation was 66.8 million yuan ($9.7 million), versus a 5.95 billion yuan loss in Q1 2025.