#evs

#evs

Rivian reported Thursday $5.38 billion in total revenue in 2025, up from $4.97 billion from the prior year. That rosy picture dulls a bit when looking just at its automotive revenue, which fell 15% to $3.8 billion in 2025. The fall was fueled by a $134-million drop in regulatory credit sales and lower vehicle deliveries, which were partially offset by higher average selling prices, according to Rivian.

Everyone is entitled to their own opinion, but that's pretty demonstrably false. It's a good reminder that consumer sentiment often lags the reality on the ground. Americans don't have a damned clue who makes good EVs. That's what I took away from the January, 2026 edition of the Electric Vehicle Intelligence Report, which measures consumer sentiment toward EV brands. Surveyed consumer sentiment toward EV brands seems to be based on vibes and internal-combustion car experience, not anything resembling reality.

The biggest macro factor for DRIV isn't consumer demand or battery costs. It's trade policy: tariffs and industrial incentives that determine where EVs get built and sold. DRIV holds $340 million in assets split between US tech giants and global automakers. When tariff threats emerge or federal EV tax credits shift, the fund's diverse holdings react differently. Watch for announcements from the Office of the US Trade Representative on Chinese EV and battery component tariffs. These typically surface quarterly or around major trade negotiations.

Subaru's Solterra sold over 12,000 units in the U.S. last year, with sales up 21% in the first half of this year, indicating strong EV interest among adventure-loving customers.

"After the pandemic ushered in many grave reports about the future of car shows, this milestone was looking like it might pass by with no more than a whimper; instead, the initial press days already ushered in more excitement than expected."