Electric vehicle manufacturers Rivian Automobile And Lucide Group released second-quarter delivery results on Thursday with mixed results.
Rivian raised its delivery range for 2026 after seeing stronger-than-expected demand for its electric vehicles during the second quarter, while Lucid fell short of Wall Street’s expectations and its new CEO, Silvio Napoli, announced a shakeup of the company’s management team.
Rivian said it now expects to deliver between 65,000 and 70,000 vehicles this year, compared to a previous forecast of 62,000 to 67,000 units.
Rivian shares were up about 6% in early trading Thursday.
Rivian, Lucid and Tesla stocks
Rivian also said Thursday that it produced 12,613 vehicles and delivered 12,194 units during the second quarter. Second-quarter deliveries came in above FactSet analysts’ consensus of 11,000 units and the company’s previous outlook, which called for deliveries of between 9,000 and 11,000 electric vehicles.
Rivian, which will report its second-quarter financial results on July 30, said the increase in deliveries in the second quarter was driven by its electric delivery van and flagship R1 products.
The company also began delivering its R2 mid-size SUV during the quarter. It is ramping up production of this vehicle at its sole production plant in Normal, Illinois, which has the capacity to produce 160,000 vehicles per year.
Lucid said it produced 4,774 vehicles and delivered 3,953 vehicles during the second quarter. Deliveries were below Wall Street expectations by 5,000 units, according to FactSet.
Along with the deliveries, the company announced the creation of a new management team led by Naples, who began overseeing the business in June. Lucid said the new format aims to “simplify the company structure” and halve the number of direct reports to the CEO.
Notably, Lucid’s CFO Taoufiq Boussaid will leave the company after being transferred to his successor, Alexander De Bock, who most recently served as CFO of automotive supplier TI Automotive.
“We are simplifying the organization, strengthening leadership, strengthening accountability and aligning our structure with the priorities that matter most: customers, quality and innovation,” Napoli said in a statement.
Leader in electric vehicles Teslameanwhile, announced 480,126 vehicle deliveries for the second quarter, exceeding expectations. The company doesn’t break out exact delivery figures by region or individual model, but it said its entry-level Model 3 sedan and most popular Model Y SUVs accounted for 467,762 units.
—CNBC Lora Kolodny contributed to this report.