(https://www.cnbc.com/2026/07/02/rivian-lucid-q2-deliveries-demand.html) to 65-70K units for 2026, treating it like a win. But here's the real issue: raising unit targets while your net margin sits negative means you're just scaling losses faster. Legacy OEMs like $F are assembling 2M+ vehicles annually at single-digit to mid-teen net margins—$RIVN needs to prove it can reach breakeven unit economics, not just volume. The demand narrative is backwards.

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