Pure-EV player Rivian delivered a clear third-quarter beat and raised its 2026 delivery outlook on the back of early R2 strength, while sector giant Tesla’s robotaxi fleet in Texas tipped toward a Cybercab majority.
- Rivian raised its full-year 2026 delivery outlook to 67,000–70,000 vehicles from 65,000–70,000 and improved its adjusted core guidance by $100 million at the midpoint.
- EV giant Tesla, meanwhile, continued expanding its robotaxi service this week, with Cybercabs now accounting for a majority of the company’s authorized fleet in Texas.
- General Motors, meanwhile, is looking to develop hybrid versions of its high-volume three-row SUVs in the U.S.—the Chevrolet Traverse, Buick Enclave, and GMC Acadia, Reuters reported.
This week’s EV spotlight swung firmly to Rivian, which stole the show with a stronger-than-expected third-quarter beat powered by its new R2 SUV—outshining Tesla’s steady robotaxi rollout and the more incremental affordable-EV updates from legacy names like Ford.
Rivian Delivers Record Quarter As R2 Leads Sales; Hikes Full-Year Delivery Guidance
Rivian reported third-quarter revenue of $2.16 billion, up 38% year over year and ahead of consensus estimates near $1.99 billion. The adjusted loss narrowed to $0.48 per share, better than the roughly $0.56 loss analysts had projected.
The company raised its full-year 2026 delivery outlook to 67,000–70,000 vehicles from 65,000–70,000 and narrowed its full-year adjusted core loss guidance by $100 million at the midpoint, while lowering expected capital expenditures outlook to $1.4 billion–$1.5 billion. The hike in delivery outlook is driven by the strong demand for the company’s new R2 SUV, deliveries of which began in June. The company now expects R2 to represent the majority of total delivery volume in the fourth quarter and has added a second shift at its plant in Illinois to scale production.
CEO RJ Scaringe said Rivian remains on track to hit an autonomy milestone by year-end that would unlock a $250 million tranche of Uber’s planned investment. The Volkswagen joint venture continued to contribute meaningful software revenue in the third quarter, and the first EV model from the joint venture will launch next year in Europe incorporating technology from Rivian.
Tesla Robotaxi Fleet Grows; Cybercabs Surpass Model Ys In Texas
EV giant Tesla, meanwhile, continued expanding its robotaxi service this week. Earlier this week, Texas Department of Motor Vehicles data showed 1,051 authorized vehicles in the company’s robotaxi fleet, with 544 purpose-built Cybercabs now outnumbering 507 Model Ys. The crossover marks a clear shift from earlier in October, when Model Ys still outnumbered the dedicated robotaxi vehicle.
Separately, Italy signaled support for broader European Union approval of Tesla’s Full Self-Driving software aimed at automating several aspects of driving. While individual European Union countries have approved FSD, an EU-wide approval is pending, with Tesla previously pegging it for early 2027.
Ford Advances Affordable EV
Ford CEO Jim Farley said testing of the company’s upcoming sub-$30,000 Fathom midsize electric pickup “completely blew me away,” citing its capabilities and low cost of ownership. The vehicle remains on track for a late-2027 launch, with production of large aluminum unicastings advancing and a new bidirectional charging system designed to reduce home-power costs.
Ford also reiterated its longer-term EV financial targets, still aiming for Model e breakeven by 2029, while reporting improved results from its Model e unit. In Q3 2026, Model e posted an EBIT loss of approximately $1.06–$1.1 billion on revenue of $1.2 billion. That marked a roughly 25% improvement from the $1.41 billion loss in the year-ago quarter.
GM Advances Hybrid SUV Plans
General Motors, meanwhile, is looking to develop hybrid versions of its high-volume three-row SUVs in the U.S.—the Chevrolet Traverse, Buick Enclave, and GMC Acadia, Reuters reported.
The company confirmed that it is preparing its Lansing Delta Township Assembly Plant for future hybrid production without providing details on timing or final nameplate details. The move marks a notable shift for an automaker that had largely prioritized pure battery-electric vehicles and previously offered only a Corvette hybrid in the U.S. Hybrids have gained share amid elevated gasoline prices, while GM’s U.S. market share has slipped.
While RIVN clocked 3% this week, TSLA gained 7%, GM 15% and F about 6%.
On Stocktwits, sentiment around RIVN stock jumped from ‘neutral’ to ‘extremely bullish’ over the past week, while sentiment around GM slumped from ‘extremely bullish’ to ‘bearish.’ Sentiment around TSLA stayed unmoved at ‘bearish’ levels, while sentiment around F stock stayed ‘neutral’ in the meantime.
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