After revealing plans to issue another $1.5 billion in convertible debt, concerns about Rivian’s (RIVN) financial health have risen. The EV maker’s CEO, RJ Scaringe, explained that the debt offering creates an additional buffer rather than reflecting concerns over cash.
Rivian revealed in an 8K filing earlier this month that it plans to offer $1.5 billion in green convertible senior notes. The debt offering comes after a $1.3 billion capital raise in March.
The fundraising caused Rivian shares to plummet as investors questioned the EV maker’s financial health. A day before the announcement, Scaringe told CNBC’s Squawk Box that Rivian was “very comfortable with the fact we’ve maintained a strong balance sheet.”
To ease investor concerns, Scaringe told Reuters Wednesday that Rivian’s debt offering is designed to free up liquidity as it enters a new growth phase.
Following the fundraiser in March, Scaringe said Rivian would have enough cash to last through 2025.
“We don’t control the macro economic environment, we cannot control political conflict, and those are real risks that exist not just specific to Rivian,” Scaringe explained. He added there’s “a risk to our capital markets” and the liquidity available.
Rivian R1S (Source: Rivian)
Rivian says debt offering does not reflect R2 confidence
Rivian plans to launch its second-gen R2 models in 2026. The products will be smaller and cheaper as Rivian introduces new methods to boost efficiency. We will get our first look at the R2 lineup in 2024.
Scaringe said Wednesday, “I would not say this is any reflection of the degree of confidence we have for R2 both in terms of execution and in terms of our cost structure.”
Rivian R1T (Source: Rivian)
Rivian’s loss per vehicle has improved significantly throughout the year. In the second quarter, Rivian lost $32,594 on every car it delivered. Although it’s still a major deficit, it’s a 50% improvement from Q1 ($67,339 loss per vehicle). The progress becomes even more apparent compared to last year.
Q3 ’22
Q4 ’22
Q1 ’23
Q2 ’23
Rivian loss per vehicle
$139,277
$124,162
$67,329
$32,594
Rivian loss per vehicle quarterly
Rivian has around $9.2 billion in cash as of the end of June. The company’s preliminary Q3 results suggest around $1.29 billion and $1.33 billion in revenue, aligning with the Wall St. consensus of $1.3 billion.
After beating Q3 expectations and delivering 15,564 electric vehicles in the third quarter, Rivian says it’s on track to hit its 52,000 production target this year.
Meanwhile, Rivian’s stock is still down 38% over the past 12 months and 83% from its all-time high in November 2021.
Electrek’s Take
The third and fourth quarters will be significant for Rivian as it looks to maintain momentum going into the end of the year.
The EV maker has shown throughout the year that it can ramp production while improving efficiency. Rivian is not the only automaker improving its balance sheet as the industry braces for higher interest rates and geopolitical uncertainties.
NIO, Fisker, Polestar, and even General Motors have recently announced new plans to free up liquidity.
FTC: We use income earning auto affiliate links.More.
Lectric’s April sale offers largest bundle ever on XPress 750 Commuter e-bikes at $1,399 (Up to $654 in FREE add-ons)
After the exciting April Fool’s Day flash sale, Lectric has switched gears to its longer-lasting April Showers Sale that is offering up to $654 in free gear along with e-bike purchases. Of course, the XP 3.0 e-bikes are prominently featured once again, this time with $500 bundles, and we’re seeing the other models retain the price cuts from previous sales, but I wanted to take the time to shine a spotlight on the XPress 750 Commuter e-bike for $1,399 shipped that is getting $557 in free gear. This bundle would normally run you $1,956 in all, with this being the largest package to accompany the e-bike that we have seen to date. Along with your purchase, you’ll be getting a rear cargo rack, a suspension seat post, fenders to go over both wheels, an Elite headlight, adjustable rear mirrors, an accordion-style folding bike lock, a wide saddle, a phone mount, and a 1.5L top tube bag.
Coming with the option for a high-step or step-through frame, the XPress 750 e-bike is a solid choice for commuters who are looking for significant travel support, with my own regularly getting me across Brooklyn, never once having me concerned about running out of battery. It’s been given a 750W rear hub motor (that peaks at 1,310W), a removable 48V 14Ah battery, and comes supported by five levels of PAS that themselves are supported by a torque sensor – all to provide you with up to 60 miles of travel at 20 MPH speeds, which can go to 28 MPH should you live in a state that allows it. Of course, for those wanting to ride on pure electricity, there is a throttle here, though keep in mind it will lessen your mileage.
Advertisement – scroll for more content
There’s plenty of features that deserve some praise, like the hydraulic mineral oil brakes, the front suspension, and the puncture-resistant tires – all of which provide a heightened riding experience. But that’s not all, as there’s also the 7-geared freewheel alongside the Shimano derailleur, the integrated headlight and taillight, a thru-axle wheel attachment system for tool-free installations, the hidden cable routing system, removable pedals (which have helped more than you can guess), and a full-color display that has a USB-A port to charge your devices as you ride. Considering the sizeable package of additional gear, you’ll be loaded up and ready to cruise on through the seasons ahead.
Lectric April Shower Sale XPedition 2.0 bundles:
XPedition 2.0 standard cargo e-bike with $326 bundle, Stratus White: $1,399 (Reg. $1,725)
XPedition 2.0 standard cargo e-bike with $326 bundle, Raindrop Blue: $1,399 (Reg. $1,725)
XPedition 2.0 DB cargo e-bike with $505 bundle, Stratus White: $1,699 (Reg. $2,204)
XPedition 2.0 DB cargo e-bike with $505 bundle, Raindrop Blue: $1,699 (Reg. $2,204)
XPedition 2.0 DB LR e-bike with $654 bundle, Stratus White: $1,999 (Reg. $2,653)
XPedition 2.0 DB LR e-bike with $654 bundle, Raindrop Blue: $1,999 (Reg. $2,653)
Lectric April Shower Sale XP 3.0 e-bike offers with $500 bundles:
Lectric April Shower Sale ONE LR e-bike with $467 bundle
Lectric April Shower Sale XP Trike with $420 bundle
Lectric April Shower Sale XPeak 2.0 bundles:
Lectric April Shower Sale XP Lite 2.0 bundles:
XP Lite 2.0 JW Black e-bike with $177 bundle, 80-mile range: $1,099 (Reg. $1,276)
XP Lite 2.0 Arctic White e-bike with $177 bundle, 80-mile range: $999 (Reg. $1,176)
XP Lite 2.0 Sandstorm e-bike with $177 bundle, 80-mile range: $999 (Reg. $1,176)
XP Lite 2.0 Lectric Blue e-bike with $177 bundle, 80-mile range: $999 (Reg. $1,176)
XP Lite 2.0 Lavender Haze e-bike with $177 bundle, 80-mile range: $999 (Reg. $1,176)
Jackery takes up to $1,900 off a selection of home and outdoor backup power solutions starting from $90
Jackery is having a short-term flash sale through April 6 on a selection of power stations that can have you geared up for spring travels alongside any unexpected emergencies. Among the pool of offers, a solid choice for outdoor ventures is the brand’s Explorer 1000 v2 Portable Power Station for $499 shipped. It would normally cost you $799 to grab it at full price, but you’ll be getting a 38% markdown here while the savings last, with things matching over at Amazon, just be sure to clip the on-page coupon. While we have seen it go as low as $399, which was last seen during Black Friday sales, you’ll be getting $300 in savings at one of the lowest prices we have tracked. Head below to see all the other deals during this sale.
One of three newer v2 models, Jackery’s Explorer 1000 v2 delivers serious power output considering its more compact design, with up to 1,500W being sent to your devices/appliances normally while being able to surge to 3,000W for larger backup needs. All this is coming from its 1,070Wh LiFePO4 capacity through its seven port options: one USB-A, two USB-Cs, and three ACs, as well as a car port.
Plugging it into a wall outlet will give you back a full capacity in about 1.6 hours, or you could reach it in just on hour by activating its emergency charging feature through the smart controls on its companion app. There’s also the 600W maximum solar input that you can utilize to recharge from the sun’s rays. It comes rated for a minimum of 4,000 life cycles, meaning that you can charge and discharge it every day for nearly 11 years of backup support.
Kärcher’s K1700 2,125 PSI electric pressure washer hits one of its best prices ever at $105
Amazon is now offering the Kärcher K1700 Electric Pressure Washer for $104.99 shipped. Coming down off its more recent $170 rate, which is down from its $200 price tag, discounts over the last year have mainly been keeping things above $120, though we did spy it dropping to $106 at the end of February. Today though, you’re looking at one of the best rates ever, with the 38% markdown here (48% off its $200 pricing) giving you back $65 at the third-lowest overall price we have tracked – $2 and $5 above the lowest prices.
There’s always plenty of grime left over after winter that calls for some spring cleaning, and this pressure washer from Kärcher is ready to power you through it all with up to a maximum 2,125 PSI and 1.46 max GPM flow rate. It features an on/off foot switch for easier operations, as well as an onboard 0.5-gallon detergent tank for soap application needs. There’s even a detachable storage container that you can use to keep the 20-foot hose, wand, and three included nozzles organized.
Tackle lawn duties with Greenworks’ 80V mower, trimmer, and blower combo at a new $560 low (Today only)
As part of its Deals of the Day, Best Buy is starting off April with the best rate yet on the Greenworks 80V 21-inch Lawn Mower, 13-inch String Trimmer, and 730 CFM Leaf Blower Combo that is down at $559.99 shipped through the rest of the day. This 3-tool package typically carries a $1,100 price tag outside of discounts, which we saw fall as low as $600 over 2024 and has come down to $570 so far in 2025 – until today. You’re looking at a 49% markdown through the rest of the day, saving you $540 at a new all-time low price. It’d be difficult to find this exact combo elsewhere, including Amazon, where a less advanced 3-tool combo is the closest match at $550.
With spring finally here, this 3-tool bundle is a solid choice for folks who need to tackle various jobs outside your home. The mower comes with an 80V brushless motor for more efficient operation that is powered by the included 4.0Ah battery for up to a 1/2 acre of runtime on one full charge, as well as offering seven cutting height levels for your grass. The string trimmer cuts in a 13-inch swath and sports the brand’s dual bump feed head for easier line replacement in the middle of work, which can go on for up to 80 minutes with the battery. You’ll get up to 730 CFM of air flow (about 170 MPH) from the leaf blower, which does have a variable speed control for easier handling. And what’s always nice about ecosystems like Greenworks’ is that you can also swap out the battery for any others you may have, not to mention losing the noise and fumes from gas-guzzling models.
Segway Ninebot F3 eKickScooter (preorder through April 14): $600 (Reg. $850)
Best new Green Deals landing this week
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
Ford’s vehicles are about to get a whole lot cheaper. With its new “From America, For America” campaign, launched Thursday, Ford is rolling out steep discounts, including employee pricing for all, and a free home charger for EV buyers.
The new campaign promotes Ford’s “American-made” vehicles with some pretty sweet deals. Ford is offering employee pricing on most 2024 and 2025 model vehicles.
All Ford and Lincoln models except the F-150 Raptors, 2025 Super Duty pickups, and Expedition are included. The Lincoln Navigator and Ford’s fleet vehicles are also excluded.
Ford is also extending its “Power Promise” promo, which offers EV shoppers a free Level 2 home charger (plus standard installation), 24/7 live electric vehicle support, roadside assistance, and an 8-year, 100,000-battery warranty.
Advertisement – scroll for more content
The program was initially launched in October, but Ford extended it through the end of March after seeing an uptick in EV sales.
Ford’s Power Promise now runs through June 30 and is available for any new EV purchase or lease, including the Mustang Mach-E and F-150 Lightning pickup.
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)
According to Rob Kaffl, Ford’s director of US sales, the company is able to offer steep discounts because it has the inventory. Kaffl told The Detroit Free Press, “We’re in a very competitive position in our stock.”
With “a lot of uncertainty in the market right now” amid Trump’s new tariffs taking effect, Kaffl said Ford’s new “From America, For America” will provide some security.
2025 Ford Mustang Mach-E (Source: Ford)
How significant are the discounts? Well, it will depend on the vehicle’s cost. A Ford dealer (who asked to remain anonymous) said an F-150 XLT hybrid with an MSARP of $65,000 would cost $55,000 under the employee pricing plan. The price of an Escape ST SUV, with an MSRP of $36,300, would be cut to $33,000.
Ford introduced the 2025 F-150 Lightning last week, with a new “Dark Elements” package and improved charging features. It still starts at $62,995.
The 2025 Ford Mustang Mach-E starts at $36,495 and is available in RWD (260-mile range) or eAWD (240-mile range). Upgrading to the extended battery will cost an extra $5,500 (eAWD only).
Electrek’s Take
The new promo comes after Ford reported on Tuesday that US sales fell by 1.3% in the first quarter. Despite limited inventory, the Mustang Mach-E is off to a record start in 2025, with over 11,600 units sold, outpacing the Chevy Equinox EV and Honda Prologue.
GM reported US sales growth of nearly 17% in the first three months of 2025. After EV sales doubled to 31,887, GM remained the number two seller of EVs in the US behind Tesla, topping Ford’s 22,550.
Although Ford has the largest manufacturing footprint in the US of any legacy automaker, CEO Jim Farley says it’s still not immune to the tariffs.
Ford imports about 21% of the vehicles it sells in the US. GM imports around 46%. Both are looking to get ahead of any potential impacts.
Ready to snag the savings on Ford’s electric vehicles while they are still here? You can use our links below to find deals on the Ford F-150 Lightning and Mustang Mach-E models in your area.
FTC: We use income earning auto affiliate links.More.
Trump’s new tariffs on China have just kneecapped Tesla’s only growing business: energy storage, which uses battery cells from China.
Tesla released its delivery results for Q1 2025 yesterday, which were quite disastrous. At 336,000 electric vehicle deliveries, they were 40,000 units below the consensus and about 20,000 units below what even the most pessimistic analysts expected.
But there was one silver lining: Tesla reported having deployed 10 GWh of energy storage – a new record for a first quarter.
While Tesla’s electric vehicle business entered a downturn in 2024, which is now accelerating in 2025, Tesla’s energy business, which primarily consists of selling Megapacks and Powerwalls, has been consistently growing.
Advertisement – scroll for more content
The bulk of this growth can be attributed to Tesla’s production ramp at its Lathrop Megafactory, where it produces the Megapack, and in the launch and production ramp of the Powerwall 3 with LFP battery cells.
Tesla now uses LFP battery cells from China to build these energy storage systems in California and Nevada.
This will significantly increase the prices of Tesla’s Powerwall and Megapack products, which should reduce the market.
The Biden administration had already announced an increase to 25% tariffs on Chinese battery cells meant for energy storage, coming in 2026.
Tesla was already bracing for the new tariff, but the Trump administration has dramatically accelerated the timeline and increased the tariffs. The administration has confirmed that the tariffs are stacking up on top of each other, which would mean 54% for goods coming from China.
The company is believed to almost exclusively use LFP battery cells from China’s CATL in its stationary energy storage products.
Tesla has also recently started production at a new Megafactory in Shanghai to produce the Megapack. The battery systems coming out of that plant are expected to be shipped to markets outside of the US and should enable Tesla to stay competitive outside the US.
Although, as we previously reported, Tesla is starting to face intense competition from its own battery suppliers for these products, CATL and BYD, which have both recently unveiled products to compete with the Megapack.
Tesla has also recently announced plans to build a second Megafactory in the US to build more Megapacks, but it’s not clear how those plans are going to be affected by the new tariffs.
Electrek’s Take
Since last year, stationary energy storage has been Tesla’s only growing business unit, and I was already worried about it because of increased competition. BYD and CATL already have a hold on LFP cells going into the Megapack, and now they are making their own Megapack products with their own cells.
Now, Tesla has to worry about tariffs significantly increasing the price of its Megapacks and Powerwalls in its biggest market: the US.
There’s a chance that Tesla has accumulated some inventory in anticipation of the tariffs, but unless they are removed, which is not impossible considering how volatile the administration has been about implementing its promised tariffs, it will result in massive Megapack and Powerwall price increases.
FTC: We use income earning auto affiliate links.More.