Rivian Leaves Investors Wanting More on Critical R2 SUV Debut

Rivian Automotive Inc. shares tumbled as it offered investors few fresh details about demand for its new R2 electric SUV, a model that’s seen as critical to the electric-vehicle maker’s future.

The company on Thursday announced a smaller-than-expected loss in the most recent quarter and plans to increase initial production at a new factory in Georgia to 300,000 vehicles annually, up from 200,000 units previously. Construction of the facility is scheduled to begin this year with R2 output starting in late 2028, the company said.