Overview
- Rivian’s Q4 2025 deliveries fell to 9,745 from 14,183 a year earlier after the U.S. EV tax credit expired on Sept. 30.
- Commentary argues Rivian’s 78% year-over-year revenue jump in Q3 likely reflected buyers pulling forward purchases before incentives lapsed.
- Shares have fallen by roughly 80% since the company’s 2021 IPO, underscoring investor concern about the path to profitability.
- Broader EV demand looks weaker, with reporting noting year-over-year delivery declines at Tesla and pressure across the segment.
- Supportive views cite potential benefits from thinner electric pickup competition and a Volkswagen software joint venture, though software sales still hinge on a growing vehicle fleet.