Rivian Shines as a Bright Spot in a Down U.S. EV Market, and Surprisingly, It's Not All R2 Driven
2026-10-24 12:45
•Daniel Miller •The Motley Fool
•• ••••• Axe Cap view
Rivian’s U.S. EV Momentum Offers a Fresh Angle for SA Investors
Rivian’s sharp rise in electric vehicle registrations bucks a down U.S. EV market, driven by both consumer models and Amazon’s growing electric van fleet.
While U.S. EV sales faltered in August, Rivian jumped to second place with registrations up 33%, thanks to both its new R2 SUV and an 87% increase in Amazon’s electric van usage. This shows Rivian isn’t just riding one model but benefiting from a diversified production approach. Tesla still leads comfortably but lost some market share, suggesting Rivian’s growth is meaningful. For South African investors, this isn’t a direct buy on JSE but a case to watch: it hints at how global EV trends might shift demand for related commodities like lithium and battery materials, which impact local miners. The rand's modest reaction to USD strength leaves room for selective risk-taking in sectors connected to green energy transition. This momentum could falter if supply chain issues or weaker consumer demand hit production targets. For now, Rivian’s story adds nuance to the EV narrative and spotlights growing commercial EV fleets, an angle less discussed but increasingly relevant. this is just our opinion and not financial advice
Hold off on direct EV plays in the JSE but consider gaining exposure to mining stocks with lithium and battery metal linkages, such as Sibanye or even diversified plays like Anglo American, anticipating supply growth to support demand. Watch USD/ZAR for volatility that could affect mining exports.
- USD/ZAR
- Sibanye
- Anglo American
- Global supply chain disruptions delaying EV production
- Weaker U.S. consumer demand reducing EV sales growth
6/10
Rivian surged to No. 2 in U.S. EV registrations in August, driven not only by its newly launched R2 but also by strong growth in its Amazon electric vans, which jumped 87% year-over-year. While the broader EV market declined 36%, Rivian's overall registrations grew 33%, positioning it well ahead of competitors as production ramps accelerate.
Our take is based on reporting first published by The Motley Fool.