Rivian Stumbled After the EV Tax Credit Died. Now the R2 Faces A Huge Test

• Rivian delivered 42,247 vehicles in 2025, a drop from 51,579 the year prior.
• The startup automaker took a sharp hit in the fourth quarter, as electric-vehicle tax credits came to an end.
• Rivian is now hanging its future on the more affordable R2, due out this year, as well as improvements to its autonomous driving platform and a technical partnership with Volkswagen.