Rivian cost cutting measures have come much closer to profitability, but the company warns that in 2025 it could be a difficult year-especially due to the uncertainty of uncertainty caused by the new Trump administration.
The company announced On Thursday, the financial results of the fourth quarter and full year 2024, and along with it, share plans to provide between 46,000 and 51,000 EVs in 2025. Results, according to the letter of shareholders, the EV manufacturer released alongside the Its results.
Rivian did not clarify what these changes are, but Trump told the campaign trail that he is coming to find a way Kill Federal Tax Credit EV $ 7,500. Friend of Trump Vivek Ramaswamy Administration He has also called For the clawback of a loan of $ 6.6 billion by the Ministry of Energy to build a factory in Georgia. This loan was completed three days before Trump was taken over.
“We are really looking forward to working with the new administration and energy department for our loan and share the president’s desire to bring jobs back to the US,” Rivian Claire McDonough chief financial director said at a teleconference on Thursday, noting that Company plans to create 7,500 construction work at the planned agricultural plant. He later told the call that Rivian plans to get a blow as big as “hundreds of millions” of invoices associated, any EV credit loss and other policy changes.
“We really believe, and we are very aligned with the administration in it that the US should continue to be a world leader in this matter, and our investment in electronics, software, autonomy and AI – these are really decisive areas for We as a country to continue to play a leading position, “said CEO RJ Scaringe on the call.
Rivian’s Cost Cutting Tear
Rivian spent much of 2024 on a tear at cost. He made 10% of his workforce in February and began simplified, cheaper versions of his flagship-R1T Pickup and R1S SUV-June. The company ended up changing 600 parts in these vehicles to reduce the cost of construction, while at the same time renewing its electrical architecture and software user environment.
Changes like these have helped Rivian Notch $ 170 million in positive gross profit in the last quarter of 2024 – though $ 60 million from it came from software and services.
Rivian reported $ 1.7 billion revenue for the fourth quarter, an increase of 32% from the same period in 2023. $ 299 million from the sale of zero -with automotive regulatory emissions. For the year, Rivian reported revenue of $ 325 million from the sale of regulatory credit.
Software revenue plays an increasingly important role. Rivian made $ 214 million from software and services in the fourth quarter, twice as much as the same year before. Rivian reported revenue of $ 484 million for 2024 from software and services.
Rivian may be in the building of building and selling EVS, but its future is also largely nailed to software, ie through a lucrative consortium with Volkswagen Group.
Software revenue is mainly led by billing and subscription fees, repair and maintenance services and the development of new vehicles and software development provided by the consortium, according to Rivian.
The Seni AI comes to Rivia
The company has become a genetic AI as a tool to rationalize customer service and reduce costs. The idea is to use AI to automate the procedures and “significantly reduce administrative expenses in all duties they did not report,” the company said in its letter.
What looks like in practice is AI an assistant or chatbot, built into the Rivian application. The company issued a Beta version in the Rivian Mobile application for R1 customers last December.
AI’s assistant was built using a combination of AI Agent Inner Infrastructure and a large third -party linguistic model, according to a Rivian spokesman who added that the company has protective messages to limit the debate to Rivian and the questions related to the guide.
The AI assistant was designed to answer questions about the needs of the services and the general questions about the vehicle. A company spokesman said he could also make a basic problem, collect the necessary information for the service and answer general questions about the vehicle.
This story has been informed with information from Rivian’s quarterly call.
