Latest news with #R1T
Yahoo
8 hours ago
- Automotive
- Yahoo
Rivian deliveries decline sharply as tariffs hit demand
(Reuters) -Rivian Automotive reported a sharp fall in second-quarter deliveries on Wednesday, as demand for its electric vehicles takes a hit from stiff competition and tariff-driven economic uncertainty, sending its shares down 3.5%. Trade tariffs imposed by U.S. President Donald Trump have led to a surge in manufacturing costs for the sector, with carmakers scrambling to reorganize supply chains to mitigate the hit to their businesses. High interest rates are also holding back some buyers, while many are taking to cheaper hybrid- and gasoline-powered cars to avoid pure-electric vehicles due to their higher sticker prices and upkeep costs. Rivian delivered 10,661 vehicles in the quarter ended June 30, a fall of 22.7% from the same quarter last year, but in line with Visible Alpha estimates. The company also produced fewer-than-expected vehicles as it gears up to launch its refreshed 2026 models of the R1T truck and R1S SUV. It made 5,979 units in the quarter, compared with estimates of 11,330 units, according to four analysts polled by Visible Alpha. The company also reiterated its forecast for annual deliveries of between 40,000 to 46,000 vehicles. The rise in vehicle costs could put pressure on Rivian's margins at a time when the company has been looking to boost profits and cut down on costs ahead of the roll-out of its more affordable R2 SUVs next year. U.S. Senate Republicans last week released a bill that would end the $7,500 tax credit on new electric vehicle sales and leases on September 30, hitting sales prospects for EV firms. Following its first-quarter gross profit announcement in May, Rivian said it received an equity investment of $1 billion from Volkswagen Group as a part of its $5.8 billion joint venture with the automaker. Rivian is expected to announce its second-quarter financial results after markets close on August 5.
CNBC
8 hours ago
- Automotive
- CNBC
Rivian deliveries decline sharply as tariffs hit demand
Rivian Automotive reported a sharp fall in second-quarter deliveries on Wednesday, as demand for its electric vehicles takes a hit from stiff competition and tariff-driven economic uncertainty. Trade tariffs imposed by U.S. President Donald Trump have led to a surge in manufacturing costs for the sector, with carmakers scrambling to reorganize supply chains to mitigate the hit to their businesses. High interest rates are also holding back some buyers, while many are taking to cheaper hybrid- and gasoline-powered cars to avoid pure-electric vehicles due to their higher sticker prices and upkeep costs. Rivian delivered 10,661 vehicles in the quarter ended June 30, a fall of 22.7% from the same quarter last year, but in line with Visible Alpha estimates. The company also produced fewer-than-expected vehicles as it gears up to launch its refreshed 2026 models of the R1T truck and R1S SUV. It made 5,979 units in the quarter, compared with estimates of 11,330 units, according to four analysts polled by Visible Alpha. The company also reiterated its forecast for annual deliveries of between 40,000 to 46,000 vehicles. The rise in vehicle costs could put pressure on Rivian's margins at a time when the company has been looking to boost profits and cut down on costs ahead of the roll-out of its more affordable R2 SUVs next year. U.S. Senate Republicans last week released a bill that would end the $7,500 tax credit on new electric vehicle sales and leases on September 30, hitting sales prospects for EV firms. Following its first-quarter gross profit announcement in May, Rivian said it received an equity investment of $1 billion from Volkswagen Group as a part of its $5.8 billion joint venture with the automaker. Rivian is expected to announce its second-quarter financial results after markets close on August 5.
Yahoo
a day ago
- Automotive
- Yahoo
Rivian Lays Off 140 Workers to Boost R2 SUV Production Efficiency
Rivian Automotive, Inc. RIVN has laid off approximately 140 employees or about 1% of its workforce, as it gears up for the 2026 launch of its more affordable R2 SUV, per TechCrunch. The majority of the job cuts affected the manufacturing division. According to former employees, some roles were cut due to process inefficiencies. Per a Rivian spokesperson, the layoffs involve a small number of salaried manufacturing staff and are part of efforts to enhance operational efficiency ahead of the R2 rollout. Affected employees are being encouraged to apply for other positions within the R2 will be the fourth vehicle produced at Rivian's Normal, IL facility, following the R1S, R1T and its commercial van. To prepare for R2 production, the factory will temporarily shut down later this year. The necessary equipment has already arrived and will be installed with minimal impact on the R1S and R1T lines, which will share some infrastructure with the R2 line. Per its SEC filing, as of early 2025, Rivian had more than 14,800 employees across North America and Europe. The company has implemented several rounds of layoffs in recent years, including a 10% reduction in early 2024 and another 1% cut in aims to broaden its reach with the upcoming R2 and R3 models, targeting more budget-conscious consumers. The R2, a midsize SUV, is slated for launch in the first half of 2026 with a starting price around $45,000, significantly lower than the premium R1 lineup. Rivian views the R2 as a key growth driver, citing major cost efficiencies in both materials and manufacturing. The company anticipates the R2's launch will accelerate its path to profitability and help reduce fixed costs per unit across all vehicles produced at its Normal, IL, plant due to higher production automaker's cash balance declined to $4.7 billion at the end of the first quarter of 2025, down from $5.3 billion in 2024, as the company continues to burn cash while pursuing long-term growth. Adjusted EBITDA losses were $329 million in the last reported quarter, due to R2 development, tech investments and expanding operations. Rivian carries a Zacks Rank #3 (Hold) at better-ranked stocks in the auto space are Strattec Security Corporation STRT, Allison Transmission Holdings, Inc. ALSN and Ferrari N.V. RACE, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks Zacks Consensus Estimate for STRT's fiscal 2025 sales and earnings implies year-over-year growth of 3.49% and 8.11%, respectively. EPS estimates for fiscal 2025 and 2026 have improved 73 cents and 91 cents, respectively, in the past 60 Zacks Consensus Estimate for ALSN's 2025 earnings implies year-over-year growth of 6.26%. EPS estimates for 2025 and 2026 have improved 54 cents and 53 cents, respectively, in the past 60 Zacks Consensus Estimate for RACE's 2025 sales and earnings implies year-over-year growth of 13.56% and 7.97%, respectively. EPS estimates for 2025 and 2026 have improved 29 cents and 33 cents, respectively, in the past seven days. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Allison Transmission Holdings, Inc. (ALSN) : Free Stock Analysis Report Strattec Security Corporation (STRT) : Free Stock Analysis Report Ferrari N.V. (RACE) : Free Stock Analysis Report Rivian Automotive, Inc. (RIVN) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Inicia sesión para acceder a tu portafolio
Yahoo
24-06-2025
- Automotive
- Yahoo
Rivian Will (Literally) Be The Brains Behind Volkswagen Group's Future EVs
In a recent interview with Yahoo! Finance, Rivian Chief Software Engineer Wassym Bensaid revealed that the EV startup will be providing the underlying tech stack for all future EVs from the Volkswagen Group. The partnership between the two companies was first announced last year, when the German auto conglomerate agreed to invest $5 billion into their much smaller American friend in exchange for its software and electrics knowhow. That eventually lead to the two creating a joint venture together to allow the free flow of intellectual property while keeping the actual brands separate. Bensaid said that Rivian's upcoming R2 SUV would be the technological foundation for the VW Group's future offerings "in a way where we will still allow each of the brands to express their own identity." In other words, Audi's future tech platform might be different from Bentley's or Lamborghini's, but they would all be building off of the same electric guts as the R2. This is probably welcome news for the German giant, as the woes of their own internal tech division, Cariad, have lead to delays from Porsche and Audi. That has in turn lead to layoffs in the division itself. Basically, Volkswagen and its brands have decades of mechanical engineering experience, but comparatively little in software engineering. And it turns out their electrical engineers are in for a bit of a wake up call as well. Read more: These Are The Best Engines Of All Time, According To You Obviously, it would be nice to get a car with a fast and bug-free infotainment system. But Rivian is offering quite a bit more than a refreshed touchscreen UI. Starting with the 2025 models of the R1T and R1S, the American startup switched to a zonal architecture for its electrics, which allowed it to remove a truly jaw-dropping 1.6 miles of wires from every single car (which in turn saved it 44 pounds in weight). First developed by Tesla, zonal architecture essentially switches the electrical design of the car from being super centralized, with every electric part reporting back to a central processor, to a decentralized one with regional hubs (zones) that the electrics in that area report to (which then themselves report back to the central hub). That makes for a vastly more efficient management of car performance, reducing the total ECUs needed from 17 to seven. This revolution in electrical engineering is sometimes called software-designed vehicles (SDV), since the physical wiring is only engineered after the software team figures out what would be the best way to run the car. For all its carmaking prowess, this newfangled method of electrical engineering is not something VW knows how to do right now. Little Rivian, more tech-focused and starting essentially from scratch, was able to pivot their entire production to zonal architecture. What Rivian didn't have was, of course, money, since it still can't make any. So selling their tech stack IP to VW for $5 billion was a pretty good move for both parties. Want more like this? Join the Jalopnik newsletter to get the latest auto news sent straight to your inbox... Read the original article on Jalopnik.
Miami Herald
20-06-2025
- Automotive
- Miami Herald
Rivian Offers Tantalizing R1T Lease Offer for June
The 2025 Rivian R1T is the first modern, mass-produced electric pickup truck, and it's easily the best-looking in its class. It comes standard with a Dual-Motor powertrain rated at 553 horsepower and 610 pound-feet of torque. The Dual-Motor Performance Upgrade ups the ante to 665 horsepower and 829 pound-feet of torque, while the Tri-Motor model is even stronger, with 850 horsepower and 1,103 lb.-ft. of torque. As you might expect, the Quad-Motor powertrain is the he-man here, with 1,025 horsepower and 1,198 pound-feet of torque. The Rivian R1T carries up to 1,764 pounds and tows up to 11,000 pounds. Depending on motor configuration and battery pack size, you'll be able to travel anywhere from 258 miles to 420 on a single charge, according to the EPA. If all that sounds like something you'd want in your driveway, now might be an ideal time to lease one. Rivian's "Summer Adventure Offer" applies to the R1T Dual-Motor model with the Performance Upgrade and large battery pack, and you'll be treated to $5,000 in down payment assistance and a $7,500 EV lease credit. Prefer the new Tri-Motor model or the hot new California Dune Edition, which wears a sublime paint job and gets standard off-road gear? You'll receive the same $5,000 down payment assist in addition to a $7,500 EV lease credit. Other models leased online receive an immediate $7,500 EV Tax Credit. All offers are good through June 30, 2025. Keep in mind that, when leasing, you should consider the monthly payment cost, taxes, and fees before signing. Lease offers vary by metro market. Check your local pricing here. While the 2025 Rivian R1T benefits from product updates, like an updated user interface and revised electrical architecture that sheds some heft, its design retains its allure, playing the part of an outdoors sophisticate. Clever touches, such as the cargo compartment that spans the width of the vehicle at the back of the cab, only make it more alluring. In a sea of Detroit pickup sameness, the Rivian R1T is a fresh take on a well-known form, minus the political hassle that now accompanies Tesla Cybertruck ownership. *Disclaimer: This article is provided for informational purposes only. The information presented herein is based on manufacturer-provided lease offer information, which is subject to frequent change and may vary based on location, creditworthiness, and other factors. We are not a party to any lease agreements and assume no liability for the terms, conditions, availability, or accuracy of any lease offers mentioned. All terms, including but not limited to pricing, mileage allowances, and residual values, require direct verification with an authorized local OEM dealership. This article does not constitute financial advice or an endorsement of any particular lease or vehicle. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
