Electric vehicle manufacturer Rivian expects to produce between 40 and 46 thousand vehicles by the end of the year.
In the first quarter, the company manufactured 14,611 vehicles, of which 8,640 were delivered to customers.
Rivian’s competitor, Lucid Motors, assembled 2,212 vehicles in the same period but plans to reach a target of 20 thousand units by the end of 2025.
Rivian has adjusted its sales forecast for 2025, citing changes in global trade caused by Donald Trump’s second presidential term. Lucid, for its part, acknowledges rising costs due to tariffs but is not changing its production plans.
During its first-quarter earnings presentation, Rivian reported a gross profit of $206 million. This is the second consecutive quarter the company has shown profitability, which grants it access to a $1 billion investment from Volkswagen Group.
Rivian’s First Quarter Achievements
The automaker has begun creating test prototypes of the new compact R2 model and is expanding production capacity in Illinois. Although most components are supplied from North America, changes in trade legislation have forced the company to revise its plans.
Rivian now expects to sell between 40 and 46 thousand vehicles instead of the previously planned 46-51 thousand. This decision could mean a reduction in volume of 5 thousand units—10-13% of initial forecasts.
Additional tariffs could increase the cost of each vehicle by thousands of dollars. However, the company has a strategic reserve of batteries, stockpiled before the presidential election, which will help mitigate the impact of new tariffs.
“We have achieved a gross profit for the second consecutive time, and this time it was the largest in our entire history—$206 million,” stated founder and CEO RJ Scaringe. “Work on the R2 is ongoing, test prototypes are already being manufactured, and the expansion of the Illinois plant is proceeding according to plan.”
Lucid Maintains Ambitions Despite Modest Figures
Lucid Motors produced 2,212 vehicles in the first quarter (not including 600 units for Saudi Arabia) and delivered 3,109 vehicles to customers. Revenue amounted to $235 million. With $5.76 billion in liquid funds, the company plans to meet its annual target of 20 thousand vehicles.