Rivian's Chief Financial Officer Claire McDonough announced significant advancements in the manufacturing costs of the refreshed R1S and R1T electric vehicles, resulting in a gross profit of $170 million in Q4 2024. Key technological improvements and effective negotiations with suppliers have slashed manufacturing costs per unit by $31,000. While Rivian still operates at a loss, these developments put the company closer to profitability, which is crucial for its survival in the competitive auto market. The 2025 models also include new battery technology and in-house manufactured drive units.
Rivian's refreshed R1S and R1T electric vehicles now cost significantly less to manufacture due to technological improvements and supplier negotiations, indicating a step towards profitability.
Rivian achieved its first gross profit of $170 million in Q4 2024, primarily driven by a massive $31,000 reduction in the cost of goods sold per unit.
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