Rivian's R2 Is Shipping and Uber Wants 50,000 of Them
Key Points
Rivian began delivering its R2 SUVs in June.
Uber plans to buy up to 50,000 of those SUVs over the next few years.
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Rivian (NASDAQ: RIVN) started shipping its newest electric vehicle, the R2 SUV, in the U.S. in early June. With a starting price of $57,990, the R2 is Rivian's most affordable vehicle ever. It plans to launch an even lower-priced version starting at $45,000 by the end of 2027.
Back in March, Uber (NYSE: UBER) said it would purchase 10,000 fully autonomous R2 robotaxis with an option to buy up to 40,000 more in 2030. Uber also plans to invest up to $1.25 billion in Rivian through 2031, contingent on the company achieving its autonomous driving milestones. Let's see how that deal could generate tailwinds for both companies.
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Image source: Rivian.
Why is this a mutually beneficial deal?
In 2025, Rivian's vehicle deliveries fell 18% year over year to 42,247 as it grappled with macro, supply chain, and competitive headwinds. But for 2026, it expects its deliveries to surge to 65,000-67,000 vehicles as it ramps up its production and deliveries of the R2. The R2 also costs less to manufacture than Rivian's other vehicles, so its rising sales should boost its margins and make its stock more attractive.
As for Uber, its investment in Rivian reflects its long-term commitment to automating its ride-hailing business. It won't boost its profits anytime soon, but it should widen its moat against Alphabet's Waymo and other robotaxi operators.
Should you buy stock in Rivian Automotive right now?
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Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet. The Motley Fool recommends Uber Technologies. The Motley Fool has a disclosure policy.
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