Also has big plans beyond the TM-B. The startup mostly refers to itself as a "vehicle" company and has plans to make four-wheel pedal-assist cargo vehicles for Amazon.

Rivian reported its second-quarter 2026 earnings today, and there are improvements across the board. It’s a car. The company started delivering the R2, its first vehicle priced under $50,000, to customers on June 9.

The financials came in strong too. Revenue reached $1.658 billion, up 27% year-over-year, and Rivian posted a record $179 million gross profit while beating Wall Street on revenue, earnings, and adjusted EBITDA.

Out of Spec Reviews put a Rivian R2 Performance and a Tesla Model Y Performance on the same roads on the same afternoon. The R2 used 18% to 26% more energy at every single speed they tested.

That’s awkward, because the two SUVs carry identical EPA efficiency ratings, and Rivian CEO RJ Scaringe has been telling media the R2 matches the Model Y.