Rivian
Rivian business and news from across the web.
Evening Reading - July 7, 2026This edition of Evening Reading covers various gaming news, including IO Interactive regaining ownership of Project Fantasy and announcing layoffs, PlayStation facing complaints about its disc controversy, and updates on Marvel Rivals and Guilty Gear Strive. The article also highlights indie game Cosmodrill and discusses the broader gaming industry landscape.
Rivian (RIVN) stock drops on news of $1.5 billion secondary share offeringElectric vehicle maker Rivian announced a secondary share offering of 75 million shares to raise approximately $1.5 billion in capital. Following the news, Rivian's stock dropped over 14 percent as shareholders reacted to the potential dilution of earnings per share.- Rivian faces a class action lawsuit over self-driving in its early vehiclesRivian is facing a class action lawsuit concerning the self-driving capabilities of its earlier vehicle models. The lawsuit alleges issues with the autonomous features present in these early vehicles.
- Rivian's R2 electric SUV launches on June 9Rivian is preparing for the launch of its R2 electric SUV, with invites being sent out for the first deliveries scheduled for June 9. The company is actively promoting the upcoming release of its new vehicle.
- Rivian is rolling out its AI-powered voice assistantRivian is rolling out its new AI-powered voice assistant to all its Gen 1 and Gen 2 vehicles. The assistant will also be available on the upcoming Rivian R2 when it launches.
- Rivian (RIVN) Q1 2026 earnings results beat revenue estimates on smaller than expected lossRivian reported its Q1 2026 earnings, surpassing Wall Street's revenue estimates and posting a smaller-than-expected loss. The company achieved these results despite market expectations.
- Rivian begins production on the R2 electric SUVRivian has commenced production of its R2 electric SUV at its Normal, Illinois factory, with CEO RJ Scaringe driving the first vehicle off the line. While initial customer deliveries are slated for later this spring, starting with a more expensive Launch Package, the headline-grabbing $45,000 base model is not expected until late 2027. The company aims to position the R2 as a competitor to Tesla's Model Y.
- DoorDash partners with Rivian spinoff Also for autonomous delivery vehiclesDoorDash and Rivian spinoff Also have announced a strategic partnership to develop and deploy autonomous delivery vehicles at scale. The collaboration will involve DoorDash investing in Also and potentially utilizing their four-wheeled TM-Q electric vehicle designed for cargo hauling. DoorDash co-founder Stanley Tang will join Also's board as an observer.
- Rivian will provide 50,000 robotaxis to Uber in a deal worth $1.25 billionRivian and Uber have announced a significant partnership where Rivian will supply Uber with 50,000 robotaxis, valued at $1.25 billion. The deal begins with Uber acquiring 10,000 Rivian R2 robotaxis for deployment by 2028, with plans to expand to 25 major cities by 2031. This collaboration aims to accelerate autonomous vehicle plans for both companies.
- Rivian's R2 EV arrives this spring with a $58,000 price tagRivian has announced full pricing and trim levels for its upcoming R2 electric SUV, with the first premium models starting at $57,990 and expected to arrive in Spring 2026. The base model, priced at $45,000, is not anticipated until late 2027. The R2 will feature standard NACS charging ports and Autonomy+ hardware, with subscription options for the enhanced driving technology.