Why Rivian's R2 Could Be Worth Far More Than Its Sales Numbers Suggest

Rivian's launch of the R2 midsize EV is driving strong production and delivery growth, with Q3 deliveries up 45.8% year-over-year. The company is expanding into the higher-volume mid-size crossover market while building a high-margin software and licensing business through partnerships like its Volkswagen joint venture. Rivian projects 65,000-70,000 vehicle deliveries for 2026, with improving gross margins and recurring subscription revenue from software services.