Rivian's Software Joint Venture with Volkswagen Boosts Earnings

The electric vehicle startup's upcoming R2 SUV will be a key test as it aims to lower production costs.

Published on Feb. 15, 2026

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Rivian's fourth-quarter and full-year earnings report revealed that its technology joint venture with Volkswagen Group was a major factor in the company's financial performance in 2025. The report also provided an update on Rivian's efforts to lower the cost of goods sold per unit, with the upcoming R2 SUV expected to be a crucial test as the company aims to launch a more affordable model.

Why it matters

Rivian's ability to control costs and successfully launch the R2 will be crucial for the company's long-term success, as it seeks to expand beyond its initial high-end R1T truck and R1S SUV models. The R2's performance could also have broader implications for the electric vehicle industry's efforts to bring down prices and make EVs more accessible to mainstream consumers.

The details

Rivian's earnings report showed that its automotive cost of goods sold per unit was $100,900 in 2025, down from $110,400 in 2024, indicating progress in lowering production costs. The company expects to deliver between 62,000 and 67,000 vehicles in 2026, which could provide up to a 59% increase from the 42,247 vehicles it delivered in 2025. The R2 SUV, which is expected to go into production in the first half of 2026, will be a crucial test for Rivian's ability to bring down costs and offer a more affordable EV option.

  • Rivian delivered 42,247 vehicles in 2025.
  • The R2 SUV is expected to go into production in the first half of 2026.
  • Rivian expects to deliver between 62,000 and 67,000 vehicles in 2026.

The players

Rivian

An American electric vehicle startup that has developed the R1T truck and R1S SUV, and is now working on the more affordable R2 SUV.

Volkswagen Group

A multinational automotive corporation that has a technology joint venture with Rivian, which provided a significant financial boost to the startup in 2025.

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What they’re saying

“Software, and specifically its technology joint venture with Volkswagen Group, was the company's savior in 2025. It will also buoy the company into 2026 (another $2 billion is expected from VW Group) as Rivian launches its most important product to date: the lower-cost R2 SUV.”

— Kirsten Korosec, TechCrunch Mobility Editor (TechCrunch)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

Rivian's ability to control costs and successfully launch the more affordable R2 SUV will be crucial for the company's long-term success and the electric vehicle industry's efforts to make EVs more accessible to mainstream consumers.