Particle.news
Download on the App Store
16 ARTICLES
·
3w ago

Lucid and Rivian Report Wider Q2 Losses, Slash 2025 Outlook

Rising material costs from China export curbs squeeze deliveries, eroding profitability at both EV startups.

Image
Image
A view shows a second-generation R1S at electric auto maker Rivian's manufacturing facility in Normal, Illinois, U.S. June 21, 2024. REUTERS/Joel Angel Juarez
Lucid signage is displayed on a vehicle during the New York International Auto Show Press Preview in New York City, U.S., April 16, 2025. REUTERS/Jeenah Moon/File Photo

Overview

  • Lucid cut its full-year production guidance to 18,000–20,000 vehicles after reporting $259.4 million in Q2 revenue, missing analyst estimates and posting an $855 million net loss.
  • Interim CEO Marc Winterhoff said daily Gravity SUV orders have nearly doubled even as ongoing supply-chain bottlenecks delay production ramp-up.
  • Rivian delivered 10,661 units in Q2, marking a 22 percent year-over-year drop, and raised its full-year adjusted EBITDA loss guidance to $2.0–2.25 billion as it prepares for a 2026 model launch.
  • Both startups cited higher material costs driven by China’s export restrictions on rare-earth metals along with looming EV tax credit expirations as headwinds for margins and demand.
  • To bolster liquidity, Lucid ended the quarter with about $4.86 billion on hand and secured a $300 million Uber investment to deploy over 20,000 Gravity robotaxis over the next six years.