Today, Rivian Automotive, Inc. reported a higher-than-expected Q1 revenue of $206 million and announced that it has unlocked an anticipated $1 billion investment from Volkswagen Group, which is expected to be funded on June 30, 2025.
RJ Scaringe, Rivian Founder and CEO told investors, “This quarter we hit our second consecutive gross profit and our highest gross profit to date at $206 million. We have continued to make significant progress on R2, including vehicle validation builds underway and our Normal, Illinois manufacturing facility expansion on track.”
In the company’s press release, the all-American EV maker stated, “While Rivian has 100 percent U.S. vehicle manufacturing and a majority of its bill of materials (excluding cells) coming from the U.S. or USMCA-qualified, Rivian is not immune to the impacts of the global trade and economic environment.”
“As a result of these impacts, Rivian has revised its delivery outlook to 40,000 to 46,000 vehicles. Due to its strong first quarter results, Rivian is maintaining its outlook range for adj. EBITDA of a $(1,700) million loss to a $(1,900) million loss. Rivian also continues to expect to achieve modest positive gross profit for the full year 2025. In addition, due to the expected impact from tariffs, the company is raising its capital expenditure guidance to $1,800 million to $1,900 million.”
Rivian CFO Claire McDonough stated that new vehicles will incur additional expenses of “a couple thousand dollars” as a direct result of tariffs.
By CEO NA Editorial Staff
