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Rivian Q4 and Full Year 2021 financial results to be released March 10, 2022

(Credit: Rivian)

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Rivian will release its Q4 and Full Year 2021 financial results on Thursday, March 10, 2022, after the market closes. The EV maker will host an auto webcast to discuss the results and provide a business update at 2:00 pm PT/5:00 pm ET on the same day. 

On January 10, Rivian reported that it produced 1,015 vehicles in 2021. The company delivered approximately 920 cars to customers last year. 

Rivian also made several other notable achievements in 2021. In early November 2021, Rivian (RIVN) priced its initial public offering (IPO) at $78 per share, valuing the company at $77 billion on a fully-diluted basis. Its initial IPO officially opened 37% higher than its $78 price. When the market closed on Thursday, February 3, RIVN was down by -6.16% at $60.36. 

(Credit: Rivian)

Besides the RIVN IPO, Rivian also announced the construction of another factory in Georgia. Plans for the site reveal that Rivian’s Georgia plant will span 19,620,000 square feet within a 1,978-acre parcel of land. The Rivian factory will have a large 144-stall charging station for outbound vehicles and feature an Adventure Trail close to the plant’s test track. 

In its Q3 financial results, Rivian reported generating a total revenue of $1 million in its first quarter of revenues that ended on September 30,2021. Rivian delivered 11 R1T pickup trucks in the third quarter of 2021. The company generated a negative gross profit of $82 million in Q3 2021, which Rivian related primarily to significant labor and overhead costs from its Normal Factory. 

Rivian also shared that its total operating expenses in the previous quarter grew to $694 million, up 141% compared to the third quarter of 2020. Research and development expenses also increased from $220 million in Q3 2020 to $441 in the third quarter of 2021. The increase in expenses was attributed to increased efforts in Rivian’s R1 vehicle and electric delivery van (EDV) programs and increased overhead costs in advanced product-development activities. 

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Rivian also experienced an increase in selling, general, and administrative (SG&A) expenses from $68 million in the third quarter of 2020 to $253 million in Q3 2021. The EV automaker experienced a loss, totaling $776 million from operations last quarter.

The Teslarati team would appreciate hearing from you. If you have any tips, reach out to me at maria@teslarati.com or via Twitter @Writer_01001101.

Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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Elon Musk

SpaceX gains favor as Pentagon embraces Musk-style defense reform

The remarks highlighted Musk’s improving relationship with the White House, as well as SpaceX’s growing role in U.S. defense.

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Credit: @SecWar/X

SpaceX emerged as a clear beneficiary of the Trump administration’s renewed push to accelerate military innovation, as Defense Secretary Pete Hegseth openly praised Elon Musk’s private space enterprise during a visit to the company’s Starbase launch site in Texas. 

The remarks highlighted Musk’s improving relationship with the White House, as well as SpaceX’s growing role in U.S. defense.

Hegseth embraces Elon Musk’s pace

Speaking at SpaceX’s Starbase facility in Brownsville, Texas, Hegseth criticized what he described as a “risk-averse culture” among traditional defense contractors and called for faster innovation modeled after Musk’s approach. He confirmed that the Department of Defense plans to integrate Musk’s Grok AI platform into Pentagon systems, which is part of the administration’s efforts to make the U.S. military an “AI-first warfighting force.”

Hegseth stated that the Pentagon intends to deploy AI models across both classified and unclassified networks, signaling a willingness to push past earlier efforts to limit military use of artificial intelligence. His comments aligned closely with President Donald Trump’s recent call for a $500 billion increase in defense spending, Bloomberg News noted. Trump has also warned major contractors that slower production and shareholder-focused practices could put future contracts at risk.

While Hegseth criticized legacy defense firms, SpaceX was held up as an example of how aggressive timelines, vertical integration, and iterative development could reshape defense strategies. “We need to be blunt here; we can no longer afford to wait a decade for our legacy prime contractors to deliver a perfect system. Winning requires a new playbook. Elon wrote it with his algorithm: question every requirement, delete the dumb ones and accelerate like hell,” Hegseth said.

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SpaceX’s expanding defense role comes into focus

SpaceX has become one of the U.S. government’s most important aerospace partners. The company holds roughly $4 billion in NASA contracts to develop Starship into a lunar lander, while also serving as a key launch provider for sensitive national security payloads using its Falcon 9 and Falcon Heavy rockets.

During the visit, Musk highlighted that his ambitions extend beyond defense contracts, reiterating long-term goals of interplanetary travel and eventual exploration beyond the solar system. Still, the optics of the event reinforced how closely SpaceX’s capabilities now align with U.S. strategic priorities.

The appearance also marked another step in Musk’s political rehabilitation after a public falling-out with the White House last year. Since leaving his role leading the Department of Government Efficiency, Musk has gradually reengaged with the administration, reconnecting with U.S. President Donald Trump during slain conservative activist Charlie Kirk’s tribute and attending events at the White House. Trump’s also recently suggested that Starlink could help restore internet access in Iran.

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Tesla Model Y gets fresh configuration with three highly requested features

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Credit: Tesla

Tesla has launched a new Model Y configuration in the “Premium” trim, and it comes with three highly requested features that have launched in markets outside of the U.S. and in other trims.

Tesla announced on Monday night that it has officially launched the Model Y Premium in a seven-seat configuration, which also comes standard with a 16″ touchscreen and black headliner, both of which are featured in the Model Y Performance trim.

The seven-seat configuration is highly requested by consumers and helps fill out the more spacious SUV offering that the lineup has missed outside of the Model X, which prices out many consumers. This new upgrade only costs $2,500 extra for all three features, bringing the cash price to $48,990.

The move to add the seven-seat configuration with the black headliner and additional screen size is a welcome addition, as many Tesla fans have asked the company to come out with an SUV with more seating capacity. Although it is not a full-size SUV, the additional seating will certainly attract some buyers with bigger families.

It appears the third row is slightly more spacious than the past iteration of the seven-seat Model Y, which was available in the previous design pre-Juniper:

 

Credit: Tesla

However, it definitely still appears to be pretty cramped in terms of legroom. It will definitely be a seating arrangement for smaller passengers, mostly reserved for children.

The other two upgrades are the black headliner, which was launched in other markets and in the Model Y Performance. Many owners have wanted this change, and Tesla listened, but is only offering it with the seven-seat configuration. It also has a larger 16″ touchscreen, also present in the Model Y Performance exclusively:

Credit: Tesla

It is a nice touch to add these highly requested features to the all-electric crossover, which was the best-selling vehicle in the world for the third consecutive year.

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Tesla expands its branded ‘For Business’ Superchargers

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Credit: Francis Energy

Tesla has expanded its branded ‘For Business’ Supercharger program that it launched last year, as yet another company is using the platform to attract EV owners to its business and utilize a unique advertising opportunity.

Francis Energy of Oklahoma is launching four Superchargers in Norman, where the University of Oklahoma is located. The Superchargers, which are fitted with branding for Francis Energy, will officially open tomorrow.

It will not be the final Supercharger location that Francis Energy plans to open, the company confirmed to EVWire.

Back in early September, Tesla launched the new “Supercharger for Business” program in an effort to give businesses the ability to offer EV charging at custom rates. It would give their businesses visibility and would also cater to employees or customers.

“Purchase and install Superchargers at your business,” Tesla wrote on a page on its website for the new program. “Superchargers are compatible with all electric vehicles, bringing EV drivers to your business by offering convenient, reliable charging.”

The first site opened in Land O’ Lakes, Florida, which is Northeast of Tampa, as a company called Suncoast launched the Superchargers for local EV owners.

Tesla launches its new branded Supercharger for Business with first active station

The program also does a great job at expanding infrastructure for EV owners, which is something that needs to be done to encourage more people to purchase Teslas and other electric cars.

Francis Energy operates at least 14 EV charging locations in Oklahoma, spanning from Durant to Oklahoma City and nearly everywhere in between. Filings from the company, listed by Supercharge.info, show the company’s plans to convert some of them to Tesla Superchargers, potentially utilizing the new Supercharger for Business program to advertise.

Moving forward, more companies will likely utilize Tesla’s Supercharger for Business program as it presents major advantages in a variety of ways, especially with advertising and creating a place for EV drivers to gain range in their cars.

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