Rivian finds a way to shine even as the EV market struggles in the dark
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Rivian shocked the market with strong earnings results, proving itself an outlier in the electric vehicle market, which has been struggling with the end of government subsidies and cooling consumer excitement.The shares of the Irvine-based high-end EV manufacturer skyrocketed 27% on Friday after it announced stronger-than-expected results, indicating that, after years of struggling with losses, it may have at last found a path to profitability.
On Thursday, Rivian reported gross profits for 2025 of $144 million, compared with a net loss in 2024 of $1.2 billion.In its earnings release, Rivian credited the swing to gross profit to “strong software and services performance, higher average selling prices, and reductions in cost per vehicle.”Last October, it laid off roughly 600 employees, more than 4% of its workforce.
Business Rivian, the Irvine-based manufacturer of electric trucks and SUVs, is preparing to lay off roughly 600 employees in an effort to lower costs.Rivian delivered 42,247 vehicles in 2025 and produced 42,284 vehicles.The company still reported a $432-million net loss for the year for automotive profits, an improvement from 2024.
“It’s a turnaround for the ages,” said Dan Ives, an analyst with Wedbush Securities.“The past few years have been very frustrating for investors.” Rivian was founded in Florida in 2009 and made its initial public offering in 2021.
It competes with Tesla and other automakers selling all-electric vehicles for a premium price.Following the expiration in September of the $7,500 federal tax credit for new electric vehicles, companies have been under pressure to offer lower sticker prices.Last year, Tesla launched new variations of the Model 3 and Model Y that start at roughly $5,000 less than the more expensive versions of the same models.
Business Tesla unveiled less expensive versions of its Model 3 and Model Y vehicles on ...