Quarterly ResultApr 30, 2026, 04:08 PM
RIVN Q1 Revenue +11% to $1.38B; VW $1B Funding; Uber Partnership
AI Summary
Rivian Automotive, Inc. reported Q1 2026 financial results, with consolidated revenue up 11% year-over-year to $1.38 billion and a net loss of $(416) million. The company secured a $1 billion equity investment from Volkswagen Group following successful testing milestones. Rivian also announced a partnership with Uber for robotaxi deployment, including a potential $1.25 billion investment from Uber by 2031. Operationally, Rivian started production of saleable R2 vehicles and increased the initial production capacity of its Georgia plant to 300,000 units annually.
Key Highlights
- Received $1.0 billion equity investment from Volkswagen Group.
- Partnered with Uber for robotaxi deployment, with potential $1.25 billion investment.
- Q1 2026 consolidated revenue increased 11% YoY to $1.38 billion.
- Q1 2026 net loss was $(416) million, improved from $(541) million YoY.
- Started production of saleable R2 vehicles; first deliveries to employees.
- Increased Georgia plant initial production capacity to 300,000 vehicles annually.
- Q1 2026 consolidated gross profit was $119 million.
- 2026 annual guidance: 62,000-67,000 vehicles delivered.