ATLANTA — Electric vehicle maker Rivian, with operations in Georgia and more on the way, announced they’d seen positive results for their first financial quarter of the year.
The EV maker said they saw $206 million in positive gross profit for the start of the 2025 fiscal year and had made significant progress on developing their R2 vehicle and expanding their factory.
“This quarter we hit our second consecutive gross profit and our highest gross profit to date at $206 million,” RJ Scaringe, Rivian Founder and CEO, said in a statement. “We have continued to make significant progress on R2, including vehicle validation builds underway and our Normal, Illinois manufacturing facility expansion on track.”
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However, while plans to expand their manufacturing footprint in Georgia continue alongside developments at their other facilities, Rivian said the company was not operating in a void.
“While Rivian has 100 percent U.S. vehicle manufacturing and a majority of its bill of materials (excluding cells) coming from the U.S. or USMCA-qualified, Rivian is not immune to the impacts of the global trade and economic environment,” the company said in a statement.
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As a result of current global economic conditions, such as “evolving trade regulation, policies, tariffs and the overall impact these items may have on consumer sentiment and demand,” Rivian has revised its delivery outlook to between 40,000 and 46,000 vehicles.
Previously, Rivian said they expected to deliver between 46,000 and 51,000 vehicles.
In the company’s most recent 10-K filing with the U.S. Securities and Exchange Commission, Rivian said risks for their business were focused around trade restrictions from both the U.S. government and foreign governments, tariffs and potential price or exhcange control changes, among factors.
“In addition, there is uncertainty regarding the impact of the new United States presidential administration’s policies with respect to the EV industry and government funding, incentives, tax credits, regulatory credits and tariffs, which could have a material adverse effect on our business, results of operations or financial condition,” the company said in the filing.
Construction of the new manufacturing facility near Social Circle, Ga. is expected to start in 2026 with production of vehicles planned to start in 2028.
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