Cost reduction measures are close to Rivian from profitability, but the company warns that 2025 may still be a difficult-especially due to the uncertainty caused by the new Trump administration.
Company Declare On Thursday, the financial results in the fourth and year 2024, and with it, participated in plans to present between 46,000 and 51,000 volts over the year 2025. Reivian warned that “changes in government policies and regulations, and the difficult demand environment” could affect those The results, according to the shareholders ’message, the EV maker was released alongside its results.
Rivian did not specify what these changes might have, but Trump said in the campaign path that he was tending to find a way to The Federal Federal Tax Credit of $ 7,500. Trump’s administration friend Vivek Ramasuami It has also been called To obtain a $ 6.6 billion loan from the Ministry of Energy to build a factory in Georgia. This loan was completed three days before Trump took office.
“We are really looking forward to working with the new administration and the Ministry of Energy on our loan, and we participate in the president’s desire to return jobs to the United States,” Claire McDono, Rivian’s financial director, said in a phone call on Thursday. Noting that the company plans to create 7,500 manufacturing functions at the planned Georgia factory. She later said in the call that Review was planning a major beating like “hundreds of millions” of dollars related to definitions, any losses in EV, and other changes in politics.
“We really believe, and we are consistent with the administration on this topic, that the United States needs to be a world leader in this regard, and our investment in electronics, in software, to autonomy and AI – this is really essential and CEO of RJ Scaring in This call: “Our regions as a country to continue to exercise a leadership position.”
Review for reducing tear costs
Rivian spent most of 2024 a tear to reduce costs. She handed over 10 % of her power operating in February, and launched simplified and cheaper versions of the leading EVS-Pick AugP R1T and R1S SUV-in June. The company ended up changing 600 parts on those vehicles to reduce manufacturing costs, while renewing its user interface to electrical engineering and software.
Changes such as those that helped Rivian helped $ 170 million of positive total profits in the last quarter of 2024 – although $ 60 million of this came from software and services.
Rivian recorded $ 1.7 billion revenues for the fourth quarter, an increase of 32 % over the same period in 2023. The largest part of the fourth quarter revenues – about 1.5 billion dollars – came from the sale of 14,183 cars in addition to $ 299 million in selling zero – organizational credits Organizational for auto industry companies. For this year, Rivian recorded $ 325 million in revenues from selling organizational credits.
Software revenues are increasingly playing an important role. Rivian achieved $ 214 million of software and services in the fourth quarter, and doubled the amount from the same last period. Rivian has recorded $ 484 million revenue for 2024 software and services.
Rivian may be in the field of building and selling EVS, but its future is largely installed on software, that is, through a profitable joint project with the Volkswagen group.
Revenue from software was paid primarily through shipping, subscriptions, repair and maintenance services, new electrical engineering services for cars and software development provided by the joint project, according to Rivian.
Gen AI comes to Rivian
The company has turned into the intrusive intelligence as one tool to simplify customer service and reduce costs. In its letter, the company said to the shareholders that the idea is to use artificial intelligence to automate operations and “reduce administrative expenditures significantly on all the tasks that are not concluded.”
What appears in practice is AI’s assistant, or chatbot, built into the Rivian application. The company presented a trial version of the Rivian Mobile app for R1 customers last December.
AI’s assistant was built using a set of infrastructure for AI’s agent at home and large linguistic models by third -party, according to a Rivian spokesman, adding that the company has handrails located to reduce the conversation on the Rivian service and questions related to the guide.
Artificial intelligence assistant is designed to answer questions about service needs and general questions about the car. A company spokesman said it could also repair and repair errors, collect the information necessary for the service, and answer general questions about the car.
This story was updated with information from the quarterly profit call.