Rivia surrender Only 8,640 vehicles during the first three months of 2024, the worst quarterly mark of the company by end of 2022. But the company says the slow starting will not affect its overall guidance for the year – it still expects to deliver between 46,000 and 51,000 EVs by the end of 2025.
The company warned that the first quarter would be difficult. In a teleconference with analysts in February, Rivian’s head of financial director said that a “provocative demand environment, partly based on the impact of Los Angeles fires” – as well as seasonal sales transport to start the year – would lead to fewer traditions. The company was still able to build 14,611 vehicles in the quarter.
The soft first quarter comes to what is likely to be another difficult year for the company, as it aims to release a more affordable mass market in 2026.
Rivian has edited the R1S SUV flagship and the R1T Pickup Truck to lose less on each sale. It also left 10% of employees last year. The results of these cost reduction efforts began to appear in the financial results for 2024. In the last quarter of last year, the company recorded a positive profit of $ 170 million, albeit $ 60 million from software and services.
But many remain in the air for Rivian. It plans to do and sell about the same number EVS this year as in 2024, which means that growth will not come until 2026. In the meantime, the company warned in February that “changes in government policies and regulations” could harm its efforts to strike these efforts.
These changes are coming. After a few months, President Trump now says he is committed to paying a 25% tax on cars imported to the United States and also to some places entering this country. Rivian builds his UN in Illinois, so he doesn’t have to worry about the former – but the latter could pinch.
Trump threatened to terminate or reduce the EV $ 7,500 tax credit tax, which helps to alleviate the high cost of Rivian vehicles. Rivian is also trying to build a new plant in Georgia and leaning with a loan of $ 6.6 billion from the Ministry of Energy. This loan was completed a few days before Trump’s duties, but Trump and Elon Musk’s efforts to stop government payments – in many cases illegally, according to the courts – could threaten this life.
