Amazon.com Inc. constituted more than 50% of Rivian Automotive Inc.Revenue in the first quarter of 2026, according to earnings data shared on Thursday.
I am very proud of our relationship, says RJ Scaringe
During the earnings conference call, Rivian CEO RJ Scaringe He was asked to comment on non-Amazon customer interest in Rivian commercial vehicles. “Our relationship with Amazon continues to be something we are very proud of,” Scaringe said, sharing that vans would continue to increase with the e-commerce company.
“In terms of other customers and applications, Amazon is by far the largest operator,” Scaringe said, but also mentioned that the company had identified “many other opportunities” for its vehicles. However, Rivian’s focus right now remains on Amazon and “moving forward to support them,” the CEO said.
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Jim Chanos gives his opinion
After profits, the short seller James Chanos took to social media platform “So they’re only selling 5,000 to 6,000 vehicles per quarter on the open market? Wow,” Chanos said.
Wait then $AMZN Was $468 million (52%) of $RIVN’s $908 million in automotive revenue in Q1…? So they only sell 5,000 to 6,000 vehicles per quarter on the open market? Oh.
—James Chanos (@RealJimChanos) April 30, 2026
Rivian Earnings
Rivian posted positive earnings for the quarter, reporting revenue of $1.381 billion, which beat the market consensus of $1.363 billion and illustrated an 11% year-over-year jump for the automaker. Rivian’s software and services revenue also increased 49% year over year to $473 million.
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The company reported an EPS loss of 33 cents per share, beating a Street consensus estimate of a loss of 71 cents per share. It produced 10,236 vehicles and plans to expand the capacity of its Georgia plant by 50%, allowing it to produce 300,000 units per year.
Rivian R2 Game
The R2 could prove to be a crucial product for the automaker as it targets growing volumes in the US electric vehicle sector, currently dominated by Tesla Inc.. While the electric vehicle industry as a whole has seen a decline in demand, the Model Y continues to top the sales charts.
On the other hand, Rivian is vying to take a slice of the Tesla pie with the R2, targeting an annual sales figure of 20,000 to 25,000 for the SYV crossover.