Shares of U.S. electric vehicle maker Rivian Automotive, Inc. (RIVN) surged 13.6% in early Wednesday trading after the company reported better-than-expected third-quarter results. The automaker achieved gross profitability through contributions from joint ventures and software businesses, reaffirmed its 2025 guidance, and confirmed plans to launch its R2 model in the first half of next year.

Rivian also announced the establishment of "Mind Robotics" to expand into the industrial artificial intelligence sector.