Rivian is trying to catch up to Tesla's "hands-free" capabilities, but with additional safety guardrails. Based on recent drives totaling hundreds of miles, Rivian has surpassed legacy competitors such as General Motors with its advanced driver-assistance system but is still behind Tesla.
Software-defined vehicles are becoming more common, especially among brands such as Tesla and Rivian. They have more complex computers that can give continuous software updates, as well as the ability for remote diagnoses and repairs.
Building a company is hard. But building one that also designs, manufactures, and delivers hardware at scale, from a factory floor, with supply chain concerns galore is another order of difficulty.
Rivian Automotive Inc (NASDAQ:RIVN) shares fell more than 6% on Friday following the company's second-quarter 2026 results, as investors weighed an earnings beat against ongoing electric vehicle market pressures and profitability concerns. The EV maker reported an adjusted loss of $0.47 per share for the quarter, narrower than Wall Street expectations for a loss of roughly $0.65 per share.
The startup automaker narrowed its losses in the second quarter and said it expects to sell more electric vehicles this year than it previously projected.
Rivian reduced its 2026 spending plans and slightly narrowed its previously forecasted losses this year as the company reported second-quarter results. The EV maker stuck with its delivery target of 65,000 to 70,000 vehicles to customers.
Rivian Automotive beat quarterly revenue estimates and raised annual delivery forecast on Thursday, buoyed by optimism over the rollout of its lower-priced R2 SUV and growth in its software business as it expands beyond its premium lineup.