Rivian announced in its earnings report that it expects to deliver fewer electric vehicles (EVs) this year than initially projected due to tariffs imposed by President Trump and other regulatory changes. The company now forecasts delivering between 40,000 and 46,000 EVs by the end of 2025, revising down from its prior estimate of 46,000 to 51,000 vehicles. Rivian also increased its capital expenditure guidance to between $1.8 billion and $1.9 billion, up from the previous range of $1.6 billion to $1.7 billion. This adjustment follows similar moves by Ford and General Motors, which cited economic uncertainty tied to Trump’s tariffs. Rivian generated $206 million in gross profit in the first quarter of 2025 on 8,640 deliveries, marking the second consecutive quarter of gross profit. This achievement unlocked about $1 billion in funding from Volkswagen Group as part of a joint venture. Despite the gross profit, Rivian reported a net income loss of $541 million in the quarter, an improvement from the $1.4 billion loss in the same period last year. Automotive revenue decreased to $922 million from $1.12 billion in the first quarter of 2024, while total revenues slightly increased due to higher software and services sales. Software and services revenue reached $318 million in the first quarter of 2025, nearly quadrupling from $88 million in the same period last year.
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