Rivian raises 2026 delivery outlook after strong demand in the second quarter

Rivian raised its delivery outlook for the year to a range of 65,000 to 70,000 EVs after beating Wall Street's second-quarter expectations. Rival EV maker Lucid, however, missed Wall Street expectations for its deliveries and new CEO Silvio Napoli announced a shake-up of the company's leadership team. Electric vehicle makers Rivian Automotive and Lucid Group reported second-quarter delivery results Thursday with mixed results. Rivian raised its 2026 delivery guidance range after seeing stronger-than-expected demand for its electric vehicles during the second quarter, while Lucid missed Wall Street expectations and its new CEO Silvio Napoli announced a shake-up of the company's leadership team. Rivian said it now expects to deliver between 65,000 and 70,000 vehicles this year, up from a prior forecast of between 62,000 and 67,000 units. Rivian stock rose roughly 6% in early trading Thursday. Rivian also said Thursday it produced 12,613 vehicles and delivered 12,194 units during the second quarter. The second-quarter deliveries are higher than FactSet's analyst consensus of 11,0000 units and the company's previous outlook, which called for delivering between 9,000 and 11,000 EVs. Rivian, which will report its second-quarter financial results July 30, said higher deliveries during the second quarter were driven by its electric delivery van and flagship R1 products. The company also started delivering its midsize R2 SUV during the quarter. It's ramping up production of that vehicle at its sole production plant.