Rivian Stock Slides as Smaller Federal Loan Puts Its R2 SUV Bet Under the Microscope
Rivian shares fell 5.7% to $15.47 after the company said its federal loan for a Georgia factory would be cut to $4.5 billion. First-quarter revenue rose 11% to $1.38 billion, with a net loss of $416 million. Rivian kept its 2026 delivery forecast and reported 10,236 vehicles produced in Q1. Volkswagen invested $1 billion after software milestones; Uber-linked SMB Holding agreed to invest up to $1.25 billion.