Rivian, the electric vehicle startup, achieved a significant milestone with its first positive gross quarterly profit of $170 million in Q4 2024, ending a year marked by losses. The automaker reported record revenues driven by increased sales of regulatory credits, software services, and higher selling prices for their R1 models, amidst operational improvements. Despite these successes, Rivian anticipates modest profitability in 2025 and forecasts potential flat or declining sales as the company prepares to launch its more affordable R2 model in 2026. External factors may impact pricing and profitability, emphasizing the challenges ahead.
We delivered record revenues in the fourth quarter of 2024 driven by the sale of regulatory credits and software and services revenue growth, as well as increasing R1 average selling prices with the increased availability of our Tri-Motor offering.
Rivian reaffirmed that it does expect 2025 to have 'modest' profitability, which would be another major milestone.
Collection
[
|
...
]