Overview
- Rivian posted a first-quarter operating loss of $881 million, about 35% worse than a year ago.
- Revenue rose 11% to $1.38 billion, driven by growth in software and services tied to its Volkswagen partnership.
- Automotive revenue declined 2% as fewer regulatory credit sales and a higher mix of delivery vans lowered revenue per vehicle.
- Shares trade near $15 after a multi-year slide, reflecting investor concern about heavy losses and slower EV demand in the U.S. following reduced incentives and higher borrowing costs.
- Analysts say the cash burn is unsustainable, arguing Rivian must scale vehicle production to at least breakeven, though costlier gasoline could push more buyers to consider EVs.