Rivian reduces 2026 spending plans, narrows earnings guidance

Rivian narrowed its full-year loss guidance and cut planned 2026 capital spending in its second-quarter earnings report released Thursday. The EV maker reduced its 2026 spending outlook, a move aimed at preserving cash as the company navigates production challenges and works toward profitability.

The updated guidance tightens previously forecasted losses for 2024, though the company did not disclose specific dollar figures in the available earnings summary. Rivian's second-quarter results come as the automaker pushes to ramp production at its Illinois plant and prepares for the launch of its lower-cost R2 platform.

The spending reduction for 2026 signals management's focus on capital discipline ahead of what is expected to be a critical year for the company's volume production targets. Rivian has faced pressure to demonstrate a path to profitability while competing against legacy automakers and Tesla in the crowded EV truck and SUV segment.