Rivian today announced an important milestone, reporting its first “positive gross advantage” in its fourth quarter income for 2024. It was a sign that the efforts of the company struggling to reduce the cost through the intestine of their R1 electric vehicles have begun to get some positive. Result. But the dark clouds move forward, as the company said that it expects to sell less vehicles in 2025 compared to last year.
Rivians reported $ 170 million in positive gross profits, including production and sales, but does not have factor in other expenses for a three -month period ending 31 December, 2024. It was based on $ 1.7 billion in revenue. The company said its net loss for the fourth quarter was $ 743 million, compared to $ 1.5 billion in net deficit in the same period in 2023.
Based on the delivery of 51,579 vehicles, Rivian earned a revenue of $ 4.5 billion for 2024 throughout the year. It records a net loss of $ 4.7 billion in 2023 compared to $ 5.4 billion. The rivian cited revenue from other vehicle manufacturers to increase revenue from the sale of regulatory credit, which is also a primary revenue driver for Tesla. The company said it saw an increase of $ 260 million in regulatory credit sales in the fourth quarter.
It records a net loss of $ 4.7 billion in 2023 compared to $ 5.4 billion.
The company said in a note to the shareholders, “The decrease in our convertible costs was inspired by the launch of our second generation R1 vehicles, including important engineering design adaptation, supply chain operated cost reduction and improvement in commodity costs.”
For the coming year, Rivians said that she expects to sell 46,000-51,000 vehicles, “referring to changes in government policies and rules and a challenging demand environment.” Despite this, the company says it expects to get a “slight gross benefit” for the whole year.
“While uncertainty persists, we focus on executing against our major value drivers and are convinced in electrifying the world in the long term,” Rivian said. “Our guidance represents the current approach of management on potential adjustments for encouragement, regulations and tariff structures.”
The rivian is definitely facing difficult months, the Trump administration has promised to apply tariffs in a series of auto parts, as well as rolling back to the biden-era eV encouragement. On the plus side, the company has a $ 5.8 billion joint venture with Volkswagen on software and vehicle development.
