The stock closed Tuesday at $14.80, up 1.3%. Rivian, which is still losing thousands of dollars for every vehicle it makes, has been focused on reducing costs. Rivian CEO RJ Scaringe said in June that efficiencies earlier this year in products and manufacturing are expected to lead to 20% material cost reductions in its current vehicles, followed by 45% targeted reductions in its upcoming "R2" vehicles, which are projected to begin production in early 2026. Rivian's expenditures through the first half of the year were $537 million, including $283 million during the second quarter.