Rivian has reported its second-quarter vehicle deliveries and production results, between the R1T pickup, the R1S SUV, and the electric delivery van (EDV).
On Tuesday, Rivian reported delivering 13,790 vehicles during Q2, along with producing 9,612 at its production facility in Normal, Illinois. The company has also reiterated its full-year 2024 production target of 57,000 vehicles, ahead of the production of two new vehicle lines.
In Q1, Rivian reported delivering 13,588 of its electric vehicles (EVs), while producing 13,980. The Q2 2024 results also mark a slight decrease from the automaker’s 13,992 vehicles delivered in the same quarter last year, along with 12,640 units produced during the quarter.
Rivian plans to hold its Q2 2024 earnings call on Tuesday, August 6, starting at 2:00 p.m. Pacific Time. The automaker will hold a live webcast for the event on its website.
In the first quarter, Rivian reported losing roughly $38,784 per EV it delivered, representing an improvement from the previous quarter in which it was losing $43,372 per delivery.
Rivian’s progress toward profitability will take center stage at the company’s upcoming Q2 earnings call, as the automaker aims to reach profitability by the end of this year—or at least sometime in 2025.
In a recent tour of Rivian’s Illinois factory, CEO RJ Scaringe highlighted significant expected cost-savings from recent factory re-tooling, which resulted in decreasing average EV assembly time by 30 percent. The changes are thought to play a key role in slashing production costs and, ultimately, helping Rivian in its path to profitability.
The EV maker also got a capital boost from legacy automaker Volkswagen in the past few weeks, as the company announced a $5 billion investment into the electric truck manufacturer. The investment is expected to help Rivian build the slightly-smaller R2 truck and SUV line, as well as the eventual R3 compact EV.
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News
Ford considers drastic move with F-150 Lightning: ‘The demand is just not there’
Ford is considering a drastic move with its F-150 Lightning, which was the best-selling EV pickup on the market last quarter, beating out Tesla’s Cybertruck.
Ford has had a tumultuous entrance into its more expanded electric vehicle strategy over the past several years. At one point, the company was widely considered to be the most invested legacy automaker in the transition to electrification, but as the company has seen some real backtracking in terms of its sales and demand, it is cooling down its commitment.
At the end of Q3, it seemed to already be considering making some moves to cool off its EV ambitions, especially as the $7,500 EV tax credit was removed and it appeared that consumers would be less attracted to its vehicles without this sizeable discount.
Now, according to a new report from the Wall Street Journal, Ford is considering scrapping the F-150 Lightning altogether, as one employee said “the demand is just not there.”
Despite it being the best-selling EV pickup in the U.S. last quarter, the sales simply do not match up with the pricing, and financially, it is not the time to try to dive further into a project that is not making a profit. Ford has been dwindling in its commitment to EVs over the past several quarters, and its profits are reflecting a slowing interest in its electric vehicles.
Simply put, Ford’s combustion engine lineup of pickups in the F-Series is, by far, the best-selling division of trucks globally. Ford brought an awesome product forth with the Lightning, a mirror of the gas-powered F-Series that had a variety of trim levels for whatever the truck would be used for by the consumer.
However, the demand and sales have caused Ford to take a loss on its electric truck: figures from early last year indicated it was losing between $100,000 and $132,000 per vehicle.
It is not an official announcement, as Ford has not publicly said anything regarding its plans for the Lightning at this time.
Elon Musk
Tesla schedules Roadster unveiling event, and you won’t believe when it is
Tesla has tentatively scheduled its unveiling event for the Roadster’s next-generation iteration, and you will not believe the date the company picked for it.
Tesla CEO Elon Musk said during the 2025 Annual Shareholders Meeting that the company is aiming for an April 1 demo event.
Yes, April Fools’ Day.
🚨 Tesla’s unveiling event for the Roadster Gen 2 is scheduled for April 1, 2026.
Yes, April Fools’ Day. pic.twitter.com/sw09GUYFPV
— TESLARATI (@Teslarati) November 6, 2025
Tesla originally aimed for its “most epic demo” to take place at the end of this year. However, the writing on the wall as 2025 winds down seemed to indicate the company was not quite ready to show off everything it plans to implement into the Roadster.
Its capabilities have been teased quite heavily throughout most of the year, but the biggest hints came last week when Musk appeared on the Joe Rogan Experience Podcast.
He said:
“Whether it’s good or bad, it will be unforgettable. My friend Peter Thiel once reflected that the future was supposed to have flying cars, but we don’t have flying cars. I think if Peter wants a flying car, he should be able to buy one…I think it has a shot at being the most memorable product unveil ever. [It will be unveiled] hopefully before the end of the year. You know, we need to make sure that it works. This is some crazy technology in this car. Let’s just put it this way: if you took all the James Bond cars and combined them, it’s crazier than that.”
The Roadster has been somewhat of a letdown, at least in its newest version, thus far. Tesla has routinely delayed the project, putting those who put lofty down payments on the car in a weird limbo, lost at what to do.
One notable pre-orderer cancelled his reservation last week and got in a spat with Musk about it.
Now that there is a definitive date for the Roadster unveiling, Musk and Co. should have a more definitive cutoff date for features and capabilities. Chief Designer Franz von Holzhausen said earlier this year that when they showed Musk what they had done with the Roadster, the CEO encouraged them to do even more with it.
This delayed things further.
Musk also said he believes production would begin between 12 and 18 months after the unveiling, putting it out sometime in 2027.
Elon Musk
Tesla (TSLA) shareholders officially approve Elon Musk’s 2025 performance award
To earn his landmark pay package, Musk would be required to lift Tesla’s market capitalization from about $1.1 trillion today to $8.5 trillion over the next decade.
Tesla (NASDAQ:TSLA) CEO Elon Musk has officially approved his 2025 Performance Award, a landmark pay package that could make him the world’s first trillionaire and make Tesla the most valuable company in the world by a mile.
The 2025 CEO Performance Award was officially approved by Tesla shareholders at the 2025 Annual Shareholder Meeting.
Elon Musk‘s landmark pay package
As per Tesla, more than 75% of the shareholders approved Elon Musk’s 2025 CEO Performance Award. It was then unsurprising that the approval of Elon Musk’s pay plan received overwhelming applause from the event’s attendees.
The CEO took to the stage with much enthusiasm, welcoming every shareholder to the event and dancing briefly on stage. Optimus also danced on stage smoothly, demonstrating its improved movements to much appause.
Elon Musk’s 10-year targets
To earn his 2025 CEO Performance Award, Musk would be required to grow Tesla’s market capitalization from about $1.1 trillion today to $8.5 trillion over the next decade. At that level, Tesla would surpass every major public company in existence. The compensation plan also requires Tesla’s operating profit to grow from $17 billion last year to $400 billion annually.
Apart from leading Tesla to become the world’s biggest company in history, Musk is also required to hit several product targets for the electric vehicle maker. These include the delivery of 20 million Tesla vehicles cumulatively, 10 million active FSD subscriptions, 1 million Tesla bots delivered, and 1 million Robotaxis in operation.
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