Rivian Automotive exceeded Q3 revenue expectations due to high deliveries before the federal tax credit expiration. Shares rose 4%. The company delivered 13,201 vehicles, up 32% YoY. U.S. EV sales slowed in October. Rivian anticipates relief from a tariff offset for U.S.-made EVs, easing cost pressures. Q3 revenue was $1.56 billion, with an adjusted net loss of 65 cents per share. Production of the R2 SUV is on track for the first half of 2022. The company laid off 4.5% of its workforce and settled a class-action lawsuit for $250 million. Rivian also launched a robotics startup, Mind Robotics, with $110 million in funding.

Read more at Yahoo Finance: Rivian rides on EV tax-credit rush to beat revenue estimate, expects lower tariff costs