Rivian reported its fourth-quarter and full-year 2024 financial results last week, along with setting its delivery guidance for the year and highlighting its Department of Energy (DOE) loan that now appears to be up in the air.
On Thursday, Rivian announced its Q4 2024 and full-year financial results in a press release, highlighting that it achieved a gross profit of $170 million in the fourth quarter, along with posting a $729 million improvement year-over-year to adjusted EBITDA. The release also highlights the electric vehicle (EV) maker’s $6.6 billion loan for a planned factory in Georgia, though recent developments with U.S. President Donald Trump and Elon Musk’s Department of Government Efficiency have called the investment into question.
Rivian produced a total of 12,727 vehicles in Q4 and delivered 14,183, along with full-year results of 49,476 produced and 51,579 delivered. The company initially targeted a 57,000 production guidance for 2024, reducing that in October to just 47,000 to 49,000 due to supply and production issues.
Last year, Rivian and Volkswagen also announced plans to launch a closed joint venture and software-platform partnership, which the companies closed on in Q4 for about $5.8 billion. The automaker says $3.5 billion of the funding will go to Rivian over the next few years, while the first $1 billion was posted in Q2’s earnings in the form of a convertible note.
“This quarter we achieved positive gross profit and removed $31,000 in automotive cost of goods sold per vehicle delivered in Q4 2024 relative to Q4 2023,” said RJ Scaringe, Rivian CEO. “Our focus on cost efficiency across the business is critical for the launch of our mass market product, R2. The R2 bill of materials is approximately 95% sourced and is expected to be approximately half that of the improved R1 bill of materials.
“I couldn’t be more excited about R2, and I believe the combination of capabilities and cost efficiencies along with the amazing level of excitement from customers will make R2 a truly transformational product for Rivian.”
You can see Rivian’s 2025 guidance below, along with its full financial results for Q4 and full-year 2024.
Credit: Rivian Credit: Rivian Credit: Rivian Credit: Rivian Credit: Rivian
READ MORE ABOUT RIVIAN: Rivian tech attracts other OEMs after VW joint venture
The news comes amidst uncertainty surrounding Rivian’s Georgia loan, due to the Trump administration’s freeze on federal loans and grants. According to statements from Georgia Governor Brian Kemp last week, it’s still not clear whether Rivian’s loan, granted under the Biden administration, will be targeted as part of the push.
“You know, they [Rivian] secured that loan at the tail end of the Biden administration, and, you know, I think there’s no secret that the Trump administration is taking a look at all those things. So I don’t really know where that stands right now,” Kemp said in a statement to WSB-TV 2 Atlanta.
It also comes after Scaringe a few weeks ago said that he wasn’t nervous about Trump’s EV policies, adding that the DOE loan had already been granted through a “legally binding agreement with the DOE,” that had been “negotiated over the last couple years” and included a wide range of conditions the automaker must meet.
What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send us tips at tips@teslarati.com.
Rivian launches sales of once-exclusive van: price, specs, features
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Elon Musk
SpaceX Starship just nailed something it’s never done before
SpaceX’s Starship flew successfully Friday, landing both stages and deploying its first Starlink V3 satellites.
Starship’s thirteenth test flight delivered exactly what SpaceX needed with a clean liftoff, two successful stage recoveries, and the first real payload the vehicle has ever carried to space. Booster 20 and Ship 40 lifted off at 5:51 p.m. CT from Starbase, and by the time the mission wrapped roughly an hour later, both halves of the rocket had done exactly what they were supposed to do.
Booster 20 separated from Ship 40 a few minutes into the flight and stuck a controlled splashdown in the Gulf of Mexico about six minutes after liftoff. That is a meaningful turnaround from Flight 12 in May, when the booster lost several engines during its boostback burn before a hard water landing attempt.
Starship as seen from Starlink satellites pic.twitter.com/e2hvfmnewh
— Elon Musk (@elonmusk) July 25, 2026
Starship 40’s performance was arguably the bigger win. The vehicle deployed the first 20 operational Starlink V3 satellites Starship has ever carried, then flew a suborbital arc to a landing in the Indian Ocean that SpaceX commentator Dan Huot called the company’s softest splashdown yet. “This is a dream scenario for this team that’s trying to get this heat shield data,” Huot said on the live broadcast, according to Space.com’s live coverage. “I’m a little over the moon right now. Wow. Lucky number 13.”
Unlike the mass simulators SpaceX flew on Flight 12, these were production Starlink V3 satellites, meant to extend solar arrays and antennas and attempt to link with the broader constellation before reentering minutes later. Getting real hardware through a full deploy sequence on only the second flight of the V3 generation keeps Starship on schedule for the payload work NASA is counting on for future Artemis lunar landings.
What an awesome launch, really seems like everything went super well and it was all incredibly smooth.
SpaceX is awesome. Very interested to see how the market will respond on Monday pic.twitter.com/KSHmyBfV55
— TESLARATI (@Teslarati) July 25, 2026
— TESLARATI (@Teslarati) July 25, 2026
The flight also arrives at a moment when SpaceX needed a win. SPCX has traded below its $135 IPO price since mid-July, as Teslarati reported when the mission slipped to Friday, and short interest has climbed to roughly a third of the tradable float. A clean flight will not fix a balance sheet, but it does answer the one question SpaceX absolutely needed answered this week: whether the fixes made after the July 16 abort would hold up under real flight conditions. They did, on both stages, on the first try after the redesign.
SpaceX has not set a target date for Flight 14, though the company has said it wants to push toward an orbital attempt on the next mission. After Friday, that goal looks a lot more within reach.
Tesla’s Supercharger Diner in Los Angeles dominated the company’s global usage rankings after just one year, proving the concept is more than just a one-off novelty location that will fade away.
The performance could incite the company to build more locations, something that CEO Elon Musk has hinted at for some time.
Tesla’s Supercharger Diner delivered 21.2 GWh of energy in its first year of operation, the company’s head of Charging, Max de Zegher, revealed on X. Of the top 10 most utilized Supercharger locations in Tesla’s global infrastructure, the Diner in Los Angeles was the most used by drivers, and it wasn’t particularly close:
Tesla Diner opened exactly 1 year ago. Inspiring that futuristic places like this exist.
It’s our highest usage Supercharger in the world: 21.2 GWh delivered in a year, 1.6k sessions/day.
Top 10 Superchargers by energy delivered: https://t.co/9YvJ8lw696 pic.twitter.com/koB3AUJHws
— Max (@MdeZegher) July 21, 2026
On its launch day one year ago, nobody was too sure what the Tesla Diner would be about. It seemed like an interesting concept, and considering it had been in the works for years, it was a highly anticipated launch that many were looking forward to.
Based on its success, we could see additional Diners with Superchargers built throughout the United States, and potentially beyond. Musk has said on several occasions that the company would be willing to bring the Diner idea to more markets.
Tesla makes major change at Supercharger Diner amid epic demand
Of the markets that Musk has mentioned, both Palo Alto and Austin have come to be perceived as ideal selections. However, there are no concrete plans as of now to build new Supercharger Diners anywhere; the location on Santa Monica Boulevard will remain the exclusive spot to pick up Tesla-inspired eats, at least for the time being.
Tesla short sellers won big following the company’s massive fall on Wall Street after it reported subpar Earnings on Wednesday.
Tesla short sellers collected about $4.12 billion in single-day profits on Thursday, according to Bloomberg. Shares fell as much as 15 percent during Thursday’s session. It closed as one of the worst days for Tesla on Wall Street in the past three years.
Investors sold off the stock after Tesla said it would aggressively direct its spending toward AI and its Optimus robot project. The company had record revenues, which were driven by one of the strongest quarters in terms of vehicle deliveries in company history.
However, it missed EPS estimates by reporting just $0.33, a far cry from the $0.53 analysts expected.
S3 Partners reported that about 3 percent of Tesla’s outstanding stock is sold short. Managing Director at S3, Ihor Dusaniwsky, provided the short seller’s potential profit, as well as another figure: shorts have likely had paper gains of $8.92 billion this year, as Tesla shares are down 30 percent in 2026.
Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue
Tesla has burned short sellers many times in the past, but the company’s latest Earnings Call was a chance for those skeptics to taste some payback. Although the company gave some very transparent information regarding future projects, the rollout of Robotaxi, Optimus, and Semi, many investors took their profits on Thursday.
Notable short sellers like Michael Burry have been transparent about their skepticism around Tesla shares. Burry just revealed three weeks ago that he had opened up a new short on the stock, stating he shorted Tesla shares at $416.22. “Happy it jumped back to this level,” he said in a blog post.
At the time of publication, Tesla shares were down about 3 percent and the stock was trading at $309.92.
SpaceX Starship just nailed something it’s never done before
Tesla’s Supercharger Diner probably just secured more locations
