Rivian’s cost reduction is much closer to profitability, but the company warns that 2025 is still a difficult year due to uncertainty caused by the new Trump administration.
company presentation We have shared plans to provide 46,000 ~ 51,000 EVs in the fourth quarter of Thursday and 2024, and with them in 2025. Rivian warned that “changes in government policy and regulations and challenging demands” could affect it. As a result, according to the shareholder letter, the results of the EV producer with the results.
Rivian did not specify what these changes are, but Trump said he tended to find the following methods in the campaign trail. Kills $ 7,500 of the Federal EV tax deduction. Trump administration’s friend Vivek Ramaswey I also got a call To build a factory in Georgia to get $ 6.6 billion in the energy department. The loan was completed three days before Trump took office.
Claire McDonough, the chief financial officer of Ribian, said, “We are looking forward to work with the new executive and the Ministry of Energy for the loan, and shares the desire to bring the president’s job to the United States. ” The company said it plans to create 7,500 manufacturing jobs at the planned Georgia plant. She later said Rivian is planning to hit the hits as much as the dollar, which is related to tariffs, EV credit losses and other policies.
“We believe that the United States should be a world leader in this regard and investment in investments in electronic products, software, autonomy and AI is really important. RJ Scaringe, CEO of the phone, continued to serve as a leadership position on the phone.
Ribian’s cost reduction rupture
Rivian sent most of the 2024 cost savings. The company fired 10%of the workforce in February and launched a simplified version of R1T Pickup and R1S SUV’s flagship EV (R1T pickup and R1S SUV) in June. The company changed the 600 parts of the vehicle to lower the manufacturing cost and improved the electric architecture and software user interface.
This change helped Rivian Notch’s $ 170 million in the last quarter in 2024. But $ 60 million came from software and services.
Rivian recorded $ 1.7 billion in sales in the fourth quarter and increased 32% from the same period in 2023. About $ 1.5 billion ($ 1.5 billion) occurred in $ 29 million in sales of 14,183 vehicles and 0 sales. -The exclusion regulatory credit for automakers. In that year, Rivian reported $ 335 million in regulatory credit sales.
The profits of software are increasingly important. Rivian has doubled in the same year, producing $ 224 million in software and services in the fourth quarter. Rivian reported $ 480 million in sales in 2024 in software and services.
Rivian may be in business to build and sell EVs, but the future is greatly fixed through a favorable joint venture with software, Volkswagen Group.
According to Rivian, the profits of software have been mainly led by billing and subscription fees, repair and maintenance services, and new vehicle electric architecture and software development services provided by joint ventures.
Gen AI comes to Rivian
The company has switched to Generate AI to a tool to simplify customer service and reduce costs. The idea is to automate the process using AI and “greatly reduces the management overhead of all non -restoration work.”
Actually, it is an AI assistant or chatbot integrated into the Rivian app. The company launched a beta version in December in the RIVIAN MOBILE app for R1 customers.
According to a spokesman for Rivian, the AI assistant was built using a combination of in -house AI agent infrastructure and a third -party language model. According to a spokesman for Rivian, there is a guard rail to restrict the conversation with Libian services and guided questions. .
The AI assistant is designed to answer questions about service demands and general questions about vehicles. A company spokesman also said that he can also solve basic problems, collect the information necessary for the service, and answer the general questions about the vehicle.
This story has been updated with the information of Rivian’s quarterly revenue phone.
