Rivian has made significant strides in reducing manufacturing costs for its electric vehicles, achieving over $50,000 in cost savings per vehicle over six months. This effort has led to a positive gross profit of $206 million for the second quarter, despite a net loss of $541 million in the first quarter. The reductions stem from technological enhancements and negotiations with parts suppliers, including a new zonal architecture for electronics that minimized wiring. While Rivian remains in the red overall, its cost-cutting measures are paving the way towards profitability.
Rivian has successfully reduced its manufacturing costs by over $50,000 per vehicle in six months, boosting its profitability in a challenging industry.
Collection
[
|
...
]