Rivian cost reduction measures have approached it much closer to the benefit, but the company is warning that 2025 may still be a challenging year-due to Whorl of uncertainty caused by Trump’s new administration.
The company announced on Thursday the financial results of the fourth and full quarter of 2024, and together with it, shared plans to give between 46,000 and 51,000 EV during 2025. Rivian warned that “changes in government policies and regulations, and one Challenge of the demand environment “can affect those results, according to the shareholder letter that the manufacturer emitted along with its results.
Rivian did not specify what those changes might be, but Trump said in the campaign trail that he was inclined to find a way to kill the Federal tax credit EV $ 7,500. Trump administration friend Vivek Ramaswamy has also called for the return of a $ 6.6 billion loan from the Energy Department to build a factory in Georgia. That loan was finalized three days before Trump took office.
“We really look forward to working with the new administration and the Energy Department for our credit, and we share the President’s desire to return work to the US,” said Rivian Claire McDonough Call on a Conference Call of Conference Thursday, noting that the company plans to create 7,500 manufacturing work in the planned George plant. She later said in the call that Rivian is planning to get a hit as big as the “hundred millions of dollars” related to tariffs, any EV loans loss and other policy changes.
“We really believe, and we are very related to the administration for this, which the US should continue to be a world leader in this regard, and our investment in electronics, software, autonomy and that- These are really essential areas for us as a place to continue to exercise a leading position, ”CEO RJ Scaringe said in the call.
Tears for lowering Rivian’s cost
Rivian spent much of 2024 with a lot of cost cutting. He dismissed 10% of her workforce in February, and wrapped in simplified versions, cheaper to make his Flag-Receiving R1T and SUV R1S in June. The company ended by changing 600 parts to those vehicles to reduce production costs, while also rebuilding its electrical architecture and software user interface.
Changes like they helped Rivian score $ 170 million in Gross Positive Profit in the last quarter of 2024 – although $ 60 million came from software and services.
Rivian reported $ 1.7 billion for the fourth quarter, a 32% increase from the same period to 2023. Most of its Q4 revenue – about $ 1.5 billion – came from sale of 14,1183 vehicles as well as 299 million dollars from sales of zero -regulatory loan missions to automobiles. For the year, Rivian reported $ 325 million in revenue from the sale of regulatory loans.
Software income is increasingly playing an important role. Rivian generated $ 214 million from software and services in the fourth quarter, double the amount from the same period of the year. Rivian reported $ 484 million in revenue for 2024 from software and services.
Rivian may be in the business of building and selling EVs, but its future is also largely dependent on the software, namely through a lucrative enterprise in common with the Volkswagen Group.
Software income is mainly driven by charging and subscription fees, repair and maintenance services, and electric architecture of new vehicles and software development services provided by the joint enterprise, according to Rivian.
General he comes to Rivian
The company has turned into generating as a means of simplifying customer service and reduce costs. The idea is to use it to automate the processes and “greatly reduce the upper administration of all non-re-paid tasks,” the company said in the letter of its shareholders.
What looks in practice is an assistant of him, or chatbot, integrated into the Rivian app. The company supported a beta version in Rivian Mobile app for R1 customers this December.
The assistant was built using a combination of the infrastructure of he at home and a large model of third -party languages, according to a Rivian spokesman, who added that the company has guards in the country to limit Rivian service conversation and questions related to guides. .
The assistant was created to answer questions about service needs and general questions about vehicle. A spokesman for the company said he could solve the underlying problems, collect the necessary information for service, and answer general questions about the vehicle.
This story has been updated with information from calling Rivian quarterly profits.
