Overview
- Rivian generated $1.73 billion in Q4 2024 revenue, exceeding Wall Street expectations of $1.4 billion, with $170 million in positive gross profit driven by cost reductions and higher software revenue.
- The company delivered 14,183 vehicles in Q4, bringing total 2024 deliveries to 51,579, but forecasts fewer deliveries in 2025, estimating between 46,000 and 51,000 vehicles.
- Rivian finalized a $5.8 billion joint venture with Volkswagen to develop next-generation EV software and architecture, including the upcoming R2 midsize SUV, set for production in 2026.
- The company reduced per-vehicle costs by $31,000 year-over-year in Q4 2024 through design optimizations and supply chain efficiencies, helping narrow its net loss to $743 million from $1.5 billion in Q4 2023.
- Rivian warns that potential changes in government policies, including EV tax credits and tariffs, could impact its 2025 performance, though it remains focused on cost efficiency and scaling its product lineup.