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The rivian said that for the first time the revenue exceeds the cost of manufacturing its electric vehicles, even the car manufacturer said that it will distribute less trucks and vans this year as the demand slows down and the Trump Administration EV Industry It gets hit.
The California car manufacturer posted $ 170MN in gross profit in the fourth quarter, which exceeded the expectations of Wall Street of $ 20MN, as it reduced the cost by improving vehicle revenue per vehicle. Chief Executive RJ Scaring said the Revian had cut $ 31,000 at the cost of construction of each vehicle.
Gross profit for revenue is less than the cost of account goods, but is not responsible for other expenses such as taxes. Rivians reported a gross loss of $ 606MN in the last three months of 2023.
Rivian shares increased by 7 percent in the hourly trading before returning to the closing price of $ 13.61 on Thursday.
But Rivian also said that it would distribute less electric trucks and vans this year as compared to 2024. Last year it was distributed under only 51,600 EV, while it is estimated that it would distribute between 46,000-51,000 vehicles this year.
The company has to navigate to slow the EV demand; The Chief Executive Officer of Tesla at the White House was affected by Elon Musk; And is facing the entire car industry with potential tariffs. Trump has threatened the levy that will hit motor vehicle suppliers in Canada and Mexico, as well as raw materials such as steel and aluminum.
Claire McDono, Chief Financial Officer of Rivians, said that market changes for tax incentives, tariffs and regulatory credit may affect the company’s forecast for all years.
He said the car manufacturer was “eager to work with the new administration” to eliminate the $ 6.6BN loan provided by the US Energy Department in the last days of the carmaker former President of Biden.
Scarning said that American innovation around transport and energy requires “a mosaic of various companies” that “gives customers options because they begin to think about electrification”.
Rivians reported a net loss of $ 4.7bn in 2024, compared to $ 5.4BN last year.
