"Rivian's refreshed R1S and R1T electric vehicles now cost significantly less to manufacture due to technological improvements and supplier negotiations, indicating a step towards profitability."
"Rivian achieved its first gross profit of $170 million in Q4 2024, primarily driven by a massive $31,000 reduction in the cost of goods sold per unit."
Rivian's Chief Financial Officer Claire McDonough announced significant advancements in the manufacturing costs of the refreshed R1S and R1T electric vehicles, resulting in a gross profit of $170 million in Q4 2024. Key technological improvements and effective negotiations with suppliers have slashed manufacturing costs per unit by $31,000. While Rivian still operates at a loss, these developments put the company closer to profitability, which is crucial for its survival in the competitive auto market. The 2025 models also include new battery technology and in-house manufactured drive units.
Read at InsideEVs
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