Electric vehicle manufacturer Rivian expects to produce between 40,000 and 46,000 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 20,000 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 building test prototypes of the new compact R2 model and is expanding production capacity in Illinois. Although most components are sourced from North America, changes in trade legislation have forced the company to revise its plans.
Rivian now expects to sell between 40,000 and 46,000 vehicles instead of the previously planned 46,000-51,000. This decision could mean a reduction of 5,000 units—10-13% of the initial forecasts.
Additional tariffs could increase the cost of each vehicle by thousands of dollars. However, the company has a strategic stockpile of batteries, prepared before the presidential election, which will help cushion the impact of the new tariffs.
“We have achieved a gross profit for the second consecutive quarter, and this time it was the largest in our 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 Results
Lucid Motors produced 2,212 vehicles in the first quarter (excluding 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 20,000 vehicles.