Electric vehicle manufacturer Rivian has reported strong early demand for its new R2 SUV, which became the company’s best-selling vehicle during the third quarter of 2026.

The development represents an important milestone for the automaker as it expands its product lineup.

The company has raised its annual delivery forecast, increasing its minimum expected deliveries from 65,000 to 67,000 vehicles.

Rivian had previously struggled to exceed 50,000 annual deliveries, making the revised outlook a significant development.

Rivian delivered 19,248 vehicles during the third quarter, representing an increase of approximately 45% compared with the same period last year.

The company attributed much of the improvement to the introduction of the R2 and increased production capacity.

Despite the increase in sales, Rivian continues to face financial challenges.

The company reported third-quarter revenue of approximately $2.2 billion but recorded a net loss of $913 million, highlighting the significant costs associated with manufacturing and expanding its electric vehicle business.

The R2 SUV starts at just under $60,000, with more affordable versions expected in the coming years.

Rivian believes the vehicle could attract a broader customer base and improve its long-term growth prospects as competition in the electric vehicle market continues.