Locator: 48601RIVIAN.
Rivian: unlike Lucid, having a few problems. Link here. Cuts EV delivery outlook; cites tariff impact.
Regulators:
Press release, link here: for 1Q25 ending March 31, 2025 --
- produced 14,611 vehicles at its facility in Normal, Illinois
- delivered 8,640 vehicles during the same period
- reaffirms guidance of 46,000 to 51,000 vehicles to be delivered in CY2025
CNBC:
- beat Wall Street's expectations for 1Q25 earnings targets;
- negatively adjusted its CY25 targets for vehicle deliveries and CAPEX amid tariffs
- new guidance: deliveries between 40,000 and 46,000 units
- 46,000 --> 40,000 = a 13% drop in new guidance
- be careful: companies often emphasize "gross profit" vs "net income."
- "net income" is a more comprehensive picture of a company's profitability by considering all expenses
- for Rivian:
- gross profit: $206 million
- net income: a net loss of $541 million, much improved over a $1.45 billion loss in 1Q24, one year ago
Production cutbacks: Rivian expects production to be lower in 2H25 as they retool their Illinois plant for R2 production.
Cash infusion: $1 billion expected from Volkswagen Group later this year.
The tariff story is interesting:
"While Rivian has 100 percent US vehicle manufacturing and a majority of its bill of materials (excluding cells) coming from the US or USMCA-qualified, Rivian is not immune to the impacts of the global trade and economic environment."
This certain suggests the company will "blame" any misses on the tariffs which hardly affect Rivian directly.
EV deliveries, 1Q25:
- Ford Mustang-Mach e / Ford F-150 Lightnings: 4,667
- Lucid: 3,109
- Rivian: 8,640
