EV maker Rivian is expecting a significant ramp up in vehicle production during 2026.
The company this week shared guidance for the current year and said it plans to deliver between 62,000 and 67,000 vehicles. While it's nowhere near the volume achieved my major automakers like Ford and Toyota, it's a major increase over the 42,247 vehicles it delivered in 2025.
Most Read on IEN
- Plant Closure Means Cape Cod Chips Won't Be Made on Cape Cod
- DOJ Thwarts Potential Bagged Ice Monopoly
- Porsche May Kill These 2 Models Before They Even Hit the Market
- Musk's Las Vegas Tunnels Under Fire Over Safety Concerns
But that growth is forecast to come with year of rising capital expenditures and big losses. Rivian said its adjusted losses for 2026 will be between $1.8 billion and $2.1 billion, while capital expenditures will fall between $1.95 billion and $2.05 billion. The company recorded $2.1 billion in adjusted losses and $1.7 billion in capital expenditures last year.
Despite projecting another year of deep losses, Rivian sounded optimistic as it makes progress on its latest model, the R2. In a letter to shareholders, CEO RJ Scaringe said that last month the company completed its first R2 manufacturing validation build using production tools and processes at its plant in Normal, Illinois.
"R2 builds upon the industry-leading technology established in our flagship R1 vehicles while dramatically reducing manufacturing complexity and vehicle cost," he wrote. "With the average new vehicle purchase price in the United States at just over $50,000, and the most popular configuration being a 5-seat SUV or crossover, we believe R2 will be addressing an attractive market segment with a great daily driver that delivers on the adventurous spirit customers expect from Rivian."
Click here to subscribe to our daily newsletter featuring breaking manufacturing industry news.
