$RIVN

The article tracks tech layoffs in 2026 across companies including TikTok, Microsoft, Meta, Oracle, Samsung, Zillow, Visa, Monday.com, Patreon, Uber, Amazon, Lucid, Bungie, Robinhood and others. It cites Oracle cutting 21,000 jobs (about 13%) over the past year, Microsoft cutting 4,800 roles (Xbox hardest), Zillow cutting just over 500, and Visa cutting about 2,600 (about 7%).

The article argues Rivian Automotive (RIVN) stock could rise if the Normal, Illinois plant ramps its mass-market R2 and lowers per-vehicle costs. It cites Q2 2026 deliveries of 12,194 and about a $5,000 QoQ drop in cost of goods per vehicle after excluding roughly $100M of R2 ramp costs. It notes automotive gross loss narrowed to $36M from $62M, and expects a second shift by late Q3 2026 and positive automotive gross profit exiting 2026.

Benchmark Mineral Intelligence data cited by Reuters show global EV and PHEV sales rose 9% YoY in July to about 1.85 million units, with 11.5 million YTD. Europe rose 33% to ~450,000 on incentives. China fell 5% to 980,000 as hybrid and range-extended EV sales dropped 21%. US EV/PHEV volume fell 27% to 140,000 ahead of the Sept 30, 2025 Clean Vehicle Credit end.

JD Power’s 2026 U.S. EV Experience Public Charging Study says public charging is more reliable. DC fast charger satisfaction rose 12 points to 666/1,000, with failure rates down to 12% from 14%. Top DC fast networks were IONNA (807), Mercedes-Benz Charging Network (797), and Rivian Adventure Network (755). Level 2 satisfaction fell to 595.

Jaguar released first interior images of the production Type 01 electric coupe, with a full debut in New York on Oct. 6. Separately, the U.S. auto-loan market hit a record $211 billion in Q2, according to the New York Fed. Rivian recalled nearly 4,000 R1S and R1T vehicles, and GM plans a Procura Auto Parts deal to manage components and inventory.

Uber fully divested its Serve Robotics stake in Q2, after previously holding more than 2 million shares worth $17.5 million, according to Uber filings. Uber still holds 536 million Grab shares worth over $2 billion and started a Rivian position of 19.6 million shares worth $339.3 million. Serve’s CEO said delivery volumes fell for the first time after 17 quarters due to disagreements with Uber.

California approved the “My First EV” rebate program to offset the loss of federal EV incentives. First-time buyers of new EVs under $50,000 get $3,500, and used EVs under $25,000 get $1,750, with automakers matching and Plug-in hybrids excluded. Tesla, Hyundai and Lucid launched first; funding is estimated to cover about 73,000 sales.

Uber Technologies fully sold its Serve Robotics (SERV) stake during Q2 2026, after holding over 2 million shares worth $17.5 million as of March 31, according to Uber SEC filings. Uber’s latest filing shows no SERV position. Uber added Rivian (RIVN) shares worth $339.3 million and increased Lucid (LCID) holdings. SERV fell 0.4% and UBER rose 1% on Tuesday.

Rivian Automotive (RIVN) reported revenue up 27% to $1.66B and narrowed its net loss to $837M, helped by R2 SUV deliveries reaching 12,194 units. It raised delivery guidance to 65,000 to 70,000 and increased software and services revenue to $515M. Ferrari (RACE) raised full-year guidance to about €7.6B revenue and at least €2.26B adjusted operating profit despite lower shipments, with margin at 31.2%.

Rivian Automotive launched its R2 SUV in the U.S. on June 9, pricing it below the R1T pickup and R1S SUV to broaden its market and compete with Tesla. Rivian targets 65,000-67,000 deliveries in 2026, with 20,000-25,000 from R2. Lower costs are expected to lift gross margins, and analysts project 2026 revenue of $7.5 billion, up 38% from current levels.