Rivian Q1 2025 report shows gross profits, lowers guidance, R2 validation builds

EVWire brief: Rivian released its Q1 2025 Financial Results. It recorded the second consecutive quarter of gross profit, this time a higher $206M. This was also a milestone for the VW Group joint venture, which is expected to unlock a $1B investment. Rivian has started the design validation builds on the R2 prototype.

Before we get into it, here are resources for you to go down the rabbit hole yourself:

• The Rivian Shareholder letter (28-page pdf), and Press Release;

• $120M Rivian Supplier Park announcement for Normal, IL;

• Webcast Q&A can be accessed here, and a transcript is in full here.

To clarify the $206M gross profit mentioned above, Rivian says $92 million of this comes from the automotive segment and $114 million from the software and services segment.

Total automotive revenues for Rivian in Q1 2025 were $922 million compared to $1,116 million in the same period in 2024, primarily due to a decrease in deliveries of 4,948 vehicles. This decrease came from the seasonal increased deliveries of the EDVs in Q4 2024, and due to the supply shortage of a component in the Enduro motor system. Rivian also saw an increase in sales of automotive regulatory credits of $157 million.

Rivian reduced more than $22,600 in automotive cost of goods sold per vehicle delivered in Q1’25 compared to Q1’24.

Okay, now let’s see some more of the milestones Rivian achieved:

• Produced 14,611 vehicles at its manufacturing facility in Normal, Illinois and delivered 8,640 vehicles during the same period — in line with their expectations.

• Rivian R1S became the best-selling SUV over $70k in California in Q1 2025.

• Rivian completed over 36,000 demo drives during Q1 2025, their largest to date, including more than 7,000 “electric joyrides” at South by Southwest festival (SXSW), where it was a headline sponsor. Butts in seats sells EVs, as we like to say.

• Rivian’s commercial footprint now consists of 27 experiential spaces, 74 service centers, and over 640 mobile service vans, fulfilling the majority of service requests remote.

• Rivian’s charging network of over 700 chargers across 112 sites in 35 states continued to have high reliability of over 98% in Q1’25. To date, over 40% of the Rivian Adventure Network dispensers have upgraded to the next-generation version.

On the technology advancements,

Rivian continued “significant progress on our Rivian Autonomy Platform, built around an AI-centric approach where the vertically integrated hardware has enabled us to build a data flywheel fortraining our model with an end-to-end approach”

Rivian has now launched hands-free autonomy feature built in-house, leveraging their AI data loop, driving a 30% increase in usage for second-generation customers.

Rivian has now started design validation builds on their prototype line for R2, using mostly production tooling. Rivian writes: “We expect R2 to benefit from the key vertically integrated technologies developed for R1 including our in-house software stack, autonomy platform, propulsion technology, network architecture, and vehicle electronics.”

A little side note here, RJ Scaringe just recently posted an image of their upcoming Maximus drive unit — an important piece to the puzzle of building R2 with reduced costs. Maximus uses a new continuous winding technique that reduces the total welds per stator and thus the total overall cost of building each one. For comparison, Rivian’s current Enduro drive unit requires 264 stator welds, while Maximus only needs 24.

Just a month ago on April 2nd, Rivian reaffirmed its 2025 delivery range guidance of 46,000 to 51,000 vehicles. Now, they’ve revised it to 40,000 - 46,000 vehicles:

Rivian continues toeexpect to achieve modest positive gross profit for the full year 2025. In addition, to this, due to the expected impact from tariffs, Rivian is raising their capital expenditure guidance to $1.8B - $1.9B.

Commercial Vans: in April, Rivian announced a partnership aimed at cutting transport emissions with the world’s leading meal kit provider, HelloFresh — which has now incorporated more than 70 Rivian vans to its fleet.

Rivian Supplier Park

Rivian is investing nearly $120 million to construct a supplier park near its plant in Normal, IL, which is expected to add several hundred supplier jobs and nearly 100 direct Rivian jobs in the next two years

A subset of Rivian’s suppliers are expected to perform light assembly and manufacturing on site at the supplier park. Rivian employees at the supplier park will kit and sequence the parts, which will then be moved to the main plant. Rivian will construct an underground tunnel between the supplier park and the main plant that will ensure efficient operations while avoiding increased traffic on local roads.

Rivian builds all of its electric vehicles at the plant in Normal, IL including the R1S all-electric SUV, R1T all-electric truck, Amazon Electric Delivery Van (EDV) and the Rivian Commercial Van, which is now available for purchase for fleets of any size.

In addition to the 1.2 million square foot supplier park, construction is well underway for the 1.1 million square foot expansion of the plant necessary for R2 manufacturing. R2 production is expected to begin in 2026.

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