Deliveries improved by 14.4% year over year despite the loss of the tax credit. But the company says the best is yet to come.

Rivian Automotive shares are trading higher Monday afternoon amid broader EV sector strength while the S&P 500 gains 1.6%.

The company now expects to ship a few thousand more vehicles by the end of 2026 than it previously expected, after launching its R2 SUV last month.