Rivian Trims Capital Spending as Delivery Targets Hold Steady

The company’s revised guidance anticipates adjusted losses between $1.8 billion and $2 billion, a slight improvement from the previous upper-bound estimate of $2.1 billion. Capital expenditures are now slated for $1.7 billion to $1.8 billion, down from the earlier projection of $2.05 billion. Management attributed these savings to project efficiencies and the strategic recalibration of spending timelines, even as the firm continues to invest in proprietary hands-free driving software.

Second-quarter results showed modest growth, with total revenue reaching $1.16 billion—a figure slightly above the company’s preliminary expectations released last month. Net loss for the quarter narrowed to $837 million, or 63 cents per share, marking a notable improvement over the $1.115 billion loss recorded in the same period last year. Operations remain focused on the Normal, Illinois plant, where production is ramping up for the midsize R2 SUV, a critical component of the company's long-term strategy to reach its 160,000-unit annual capacity.