---
title: "Rivian's Gross Margin Milestone and Lucid's Cash Cushion Contrast With Nikola's Demise"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296206956.md"
description: "The US EV sector faces a harsh capital reality in 2026. Rivian hit a positive 7.5% gross margin on USD 1.66 billion in revenue, while Lucid secured vital funding to sustain operations. Conversely, Nikola is liquidating assets in bankruptcy as incumbents like Hyundai pivot heavily toward hybrids."
datetime: "2026-08-18T09:43:44.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296206956.md)
  - [en](https://longbridge.com/en/news/296206956.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296206956.md)
generator: "portal-rs"
---

# Rivian's Gross Margin Milestone and Lucid's Cash Cushion Contrast With Nikola's Demise

The US electric vehicle sector is undergoing a brutal stress test of capital efficiency and manufacturing scale in 2026, creating a stark divergence between those securing financial lifelines and those running dry. Rivian Automotive (RIVN.US) managed to cross a critical operational threshold in the quarter ended June 30, posting USD 1.66 billion in revenue and achieving a positive gross margin of 7.5%. Though net losses remained substantial at USD 833 million, the automaker successfully overtook Hyundai to become the second-largest in US EV registrations by early summer, bolstered by R2 deliveries and a sweeping 50,000-vehicle robotaxi pact with Uber.

Lucid Group (LCID.US) is similarly leaning on fleet partnerships and deep-pocketed backers to navigate its cash burn. The luxury EV maker pulled in USD 405 million in Q2 revenue—a 56% YoY jump—while sitting on a USD 3 billion liquidity buffer thanks to a fresh USD 1.05 billion capital injection spearheaded by Saudi Arabia's PIF and Uber. With a mandate to improve cash flow by USD 1.4 billion this year, Lucid is attempting a massive structural reset while pushing its product envelope with the newly unveiled 1,000-horsepower Gravity GT-S SUV.

For those without robust balance sheets, the market has been unforgiving. Heavy-duty truck maker Nikola (NKLA.US) has succumbed to its capital constraints, officially filing for Chapter 11 bankruptcy protection and seeking a rapid asset sale. Despite recording a wholesale high of 88 hydrogen fuel-cell trucks in late 2024 and maintaining fragmented operations like its HYLA refueling network, the company couldn't outrun its cash drain and the weight of a prior USD 83 million SEC settlement.

Incumbents are reading the room and adjusting their capital allocation accordingly. Hyundai Motor (HYPMY.US) is recalibrating its pure-EV ambitions in favor of immediate hybrid demand, launching a hybrid variant of its 2026 Palisade SUV priced at over USD 43,600. To offset the massive expenditures of electrification, the Korean automaker is aggressively hunting for efficiencies, deploying an internal AI platform that has slashed crash-test analysis time by 90% across its global engineering footprint.

### Related Stocks

- [RIVN.US](https://longbridge.com/en/quote/RIVN.US.md)
- [LCID.US](https://longbridge.com/en/quote/LCID.US.md)
- [NKLA.US](https://longbridge.com/en/quote/NKLA.US.md)
- [HYPMY.US](https://longbridge.com/en/quote/HYPMY.US.md)

## Related News & Research

- [What's Going On With Rivian Stock Friday?](https://longbridge.com/en/news/298072321.md)
- [Rivian Just Made The R1S And R1T Feel A Whole Lot Newer For Free](https://longbridge.com/en/news/298136760.md)
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- [Lucid director Ori Winitzer disposes of 1,000 shares worth $4,800](https://longbridge.com/en/news/297952706.md)
- [Rivian rolls out RivianOS 2, unifying software across R1 and R2](https://longbridge.com/en/news/298058735.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**