Rivian, the Irvine-based electric vehicle manufacturer, reported a significant increase in third-quarter revenue, reaching $2.15 billion, a 38% rise from the previous year. Vehicle deliveries also saw a 46% increase, largely attributed to the new R2 model launched in June. Following these results, Rivian's shares rose over 6%, closing at $12.16. Despite ongoing losses, Rivian's CEO RJ Scaringe expressed optimism about achieving positive automotive gross profits by the end of 2026, as the company continues to ramp up production of the R2.