Rivian has announced its first positive gross profit of $170 million for Q4 2024, attributed to significant cost-cutting measures and improved vehicle designs. Despite this milestone, the company forecasts flat sales for 2025 compared to last year. Rivian achieved $4.5 billion in revenue for 2024 with 51,579 vehicles delivered; however, it still recorded a net loss of $4.7 billion. A notable increase in regulatory credit sales contributed to revenue growth, indicating mixed financial performance as the company navigates its path forward.
"Our variable cost reductions were driven by the launch of our second generation R1 vehicles, which included significant engineering design optimizations, supply chain driven cost reductions, and improvement in commodity costs."
"Rivian reported $170 million in positive gross profits, which includes production and sales but does not factor in other expenses, for the three-month period that ended December 31, 2024."
Collection
[
|
...
]