- The electric vehicle manufacturer anticipates producing between 40,000 and 46,000 cars by the end of this year.
- During the initial three months, Rivian manufactured 14,611 vehicles and managed to deliver 8,640 units.
- In the first quarter, Lucid produced 2,212 vehicles; however, they anticipate reaching an annual production of 20,000 units by the end of 2025.
Rivian
Has updated its 2025 delivery projection, attributing the change to alterations in the worldwide trading landscape, significantly affected by Donald Trump’s presidency during his second term. Similarly, Lucid recognizes increased expenses stemming from tariffs but remains committed to its manufacturing goals, aiming to produce 20,000 cars for this year.
Read:
Rivian’s Hidden Stockpile Might Be The Solution To Beat Tariffs
In the release of its first-quarter 2025 financial outcomes, Rivian disclosed a substantial rise in gross profit totaling $206 million. This achievement represents the firm’s second sequential profitable quarter, which is a crucial benchmark for this nascent U.S.-based enterprise.
EV
The company becomes entitled to receive a $1 billion investment from the Volkswagen Group as part of an extensive collaboration between them.
Rivian’s First-Quarter Progress
In the initial three months, the electric vehicle start-up produced 14,611 cars and managed to deliver 8,640 units to buyers. Progress remains steady for their compact R2 model as they focus on developing verification prototypes and simultaneously enlarge their production plant in Normal, Illinois.
The automaker highlighted that despite all its vehicles being produced in the U.S., a majority of its components are sourced domestically as well.
the US
Or those that comply with USMCA rules, the impact of tariffs, “changing trade regulations,” and various policy modifications has led to a reassessment of their delivery predictions.
Rivian has revised its delivery expectations for this year downward to a range of 40,000 to 46,000 vehicles, which is below their previous estimate of 46,000 to 51,000 units. This change could result in as many as 5,000 fewer deliveries than initially thought, representing a decrease of around 10% at the upper limit of the initial prediction and dropping by approximately 13% at the lower bound.
In addition, Rivian calculates that tariffs might increase the price of each vehicle by several thousand dollars. Nonetheless, the firm seems to possess an advantage: a reserve of batteries, reportedly being secretly built-up since prior to the election. This supply may act as protection from the financial strain caused by Trump’s automobile tariffs.
This quarter marked our second successive period of gross profit, reaching an all-time high of $206 million,” said RJ Scaringe, the company’s founder and CEO. “We’ve also made considerable strides with R2, particularly as we undertake vehicle verification builds and continue expanding our production facilities in Normal, Illinois.
In Spite of sluggish beginning, Lucid sets lofty goals
Meanwhile,
Lucid
wrapped up Q1 by building 2,212 vehicles, excluding 600 currently being shipped to Saudi Arabia. The company also delivered 3,109 vehicles during the quarter, posting $235 million in revenue. Despite the ongoing challenges, Lucid ended the quarter with a healthy liquidity position of $5.76 billion and is still on track to build approximately 20,000 vehicles this year.
