Financial PerformanceRivian reported 2Q24 revenue of $1,158 million, surpassing Street expectations of about $1,148 million.
Future GrowthRivian remains on track to launch the R2 vehicle platform, which is expected to be critical in expanding the market with a starting price below $50K.
Strategic PartnershipsThe partnership with Volkswagen is expected to strengthen liquidity, aiding Rivian's path to positive gross margins.