Rivian Falls 6.6% as R2 SUV Deliveries Begin and Timeline Accelerates
RIVN•Rivian shares dropped 6.6% after peaking at $16.92 as R2 SUV deliveries began and the entry-level model timeline moved to next summer. CEO RJ Scaringe committed to gross-margin positivity across configurations priced $45,000–$58,000 ahead of full production and Georgia plant start in late 2028.
1. Delivery Launch and Share Movement
Rivian began delivering its new R2 SUV to reservation holders on June 10, prompting shares to fall 6.6% after an intraday high of $16.92. Customers received email invitations to place orders, with priority determined by reservation timing and proximity to service centers.
2. Accelerated Timeline and Pricing Structure
The company moved up its entry-level R2 launch from late 2027 to summer 2026, offering a Launch Package starting at $57,990 and targeting a sub-$50,000 trim for first half of 2027. Expert reviews of the R2 have been largely positive, supporting demand forecasts.
3. Profitability Targets and Georgia Expansion
CEO RJ Scaringe reaffirmed a goal of gross-margin positivity on every R2 configuration priced between $45,000 and $58,000. A new Georgia manufacturing facility slated for late 2028 is expected to ramp volume sufficiently to cover overhead and drive overall profitability.
