US EditionEV maker Rivian cuts 2025 production target on tariff turmoil
- Rivian announced on May 6, 2025, that it lowered its 2025 vehicle delivery forecast to 40,000-46,000 units due to tariff impacts at its Illinois factory.
- The reduction followed increased tariffs under the Trump administration, causing trade uncertainty and pressuring Rivian and other U.S. Automakers like Ford and GM to revise guidance.
- Rivian also confirmed higher capital expenditures of $1.8-$1.9 billion and plans to produce the new R2 SUV at its Normal, Illinois facility starting in 2026 to capture a more affordable market segment.
- Despite the lowered delivery target, Rivian reported a first-quarter 2025 gross profit of $26 million, revenue of $1.24 billion, and CEO RJ Scaringe reaffirmed the $45,000 starting price for the R2, calling it vital for growth.
- The guidance cut signals challenges from tariffs and economic uncertainty but suggests potential growth with the R2 launch and ongoing supply chain investments to scale production in Illinois.
21 Articles
21 Articles
Rivian Holds Firm On $45K Price For Upcoming R2 Despite Tariff Pressures: CEO RJ Scaringe Says It's 'Important For Us' As EV Maker Tops Q1 Estimates - Lucid Group (NASDAQ:LCID), NIO (NYSE:NIO)
Rivian Automotive Inc. (NASDAQ:RIVN) remains committed to its $45,000 starting price for the upcoming R2 electric vehicle despite mounting concerns over global trade tensions and tariffs, CEO RJ Scaringe confirmed during the company’s first-quarter of 2025 earnings call. What Happened: “We’re not planning changes in our $45,000 starting price. This is important for us,” Scaringe said, addressing investor concerns about the impact of recent tarif…
Rivian makes all its EVs in the U.S., but it still isn’t immune to Trump’s tariffs
Rivian Automotive Inc. is the latest U.S. car maker to change course amid concerns about tariffs. Article Attribution | Read More at Article Source The post Rivian makes all its EVs in the U.S., but it still isn’t immune to Trump’s tariffs appeared first on RocketNews.
Rivian Cuts EV Delivery Forecast, Sees Tariffs Hurting Demand
Rivian Automotive Inc. said full-year deliveries will decline more sharply than it anticipated just a month ago over the risk that consumer worries stoked by President Donald Trump’s trade war will further dampen demand for electric vehicles.
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