Rivian’s (RIVN) Q1 2025 report details highest gross profits to date, R2 validations underway

Published

3 months ago

May 6, 2025

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American EV automaker Rivian has shared its full financial report and shareholder letter for Q1 2025. The quarterly update details continued gross profits and a growing interest in the company’s two flagship BEVs. Rivian is also making headway in developing its second model, R2.

Rivian ($RIVN) continues to roll along as a prominent shaker in the American EV space, especially as legacy competitors scramble to adapt to the ever-evolving threat to their assembly lines due to proposed tariffs and an ongoing trade war with other global superpowers like China.

Ahead of today’s full Q1 2025 report, Rivian has shared its delivery numbers for the first three months of the year, shipping out 8,640 R1S and R1T models to customers. This was to be expected, as Rivian CFO Claire McDonough said during the Q4 earnings call that the automaker anticipated the dip in deliveries, citing a “supply shortage of a component in our Enduro motor system” that began in Q3 2024.

Despite the notable drop in EV deliveries compared to previous quarters, Rivian relayed that it remained on track to deliver between 46,000 and 51,000 EVs in 2025. This afternoon, Rivian adjusted that target alongside financial updates pertaining to Q1 2025.

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Rivian’s Q1 2025 report by the numbers

The main headline of Rivian’s Q1 2025 was its gross profit of $206 million. That marks the American automaker’s second consecutive quarter of reporting gross profit as well as its highest to date. Rivian shared that of that $206 million mark, $92 million came from the automotive segment and $114 million came from its software and services segment.

Rivian also achieved an 85% increase in cash flow from operating activities in Q1 2025 compared to a year prior. As we spoke about earlier this week with a teaser image of Rivian’s new Maximus drive unit posted by CEO RJ Scaringe, reducing the cost-per-unit of its BEV components while increasing production efficiency – a key goal of the company at the moment.

According to the automaker, it has achieved a $22,600 reduction in automotive cost of goods sold per vehicle delivered in Q1 2025 compared to Q1 2024.

Rivian also looks to bolster its balance sheet very soon, thanks to a previously announced joint venture with Volkswagen Group worthy of an investment of up to $5.8 billion. According to Rivian’s Q1 2025 report, its gross profit milestone has unlocked $1 billion from VW Group through said joint venture and is expected to be finalized by June 30, 2025.

While Rivian said its delivery targets were on track a month ago, the American automaker has since revised its annual numbers, citing the current economic trade environment around the world:

While Rivian has 100% US vehicle manufacturing and a majority of its bill of materials (excluding cells) coming from the U.S. or USMCA-qualified, Rivian is not immune to the impacts of the global trade and economic environment. The company’s guidance represents management’s current view on evolving trade regulation, policies, tariffs and the overall impact these items may have on consumer sentiment and demand. As a result of these impacts, Rivian has revised its delivery outlook to 40,000 to 46,000 vehicles.

That’s not a huge slide, and if Rivian hits the top end of that target, it would still equal the lower end of its previous goal for 2025. Looking ahead, Rivian said it is maintaining its outlook range for adjusted EBITDA of a $1.7 billion loss to a $1.9 billion loss. Rivian also relayed an expectation to achieve “modest positive gross profit for the full 2025 fiscal year. Lastly, Rivian is raising its capital expenditure guidance to between $1.8 billion and $1.9 billion, citing an expected impact from tariffs.

Other Rivian updates

Aside from the numbers, Rivian’s Q1 2025 shareholder letter included several progress updates, particularly regarding its highly anticipated R2 EVs. According to the company, it has commenced design validation builds on its R2 prototype line using production tooling.

The new 1.1 million-square-foot manufacturing expansion at Rivian’s Normal, Illinois, production facility, where the general assembly line for the R2 will be, is progressing on schedule and will “allow for additional manufacturing efficiency gains.” That new building will also house a new body shop.

This week, we learned that the new expansion will also be joined by a supplier park supported by a $16 million incentive package from Illinois.

Following today’s Q1 2025 report, Rivian will host an audio webcast to discuss the details above at 2:00 pm PT / 5:00 pm ET today. Tuesday, May 6, 2025.

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Environment

Volkswagen’s new electric SUV looks like a major upgrade, but there’s a catch

Published

3 hours ago

August 18, 2025

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Volkswagen's new electric SUV looks like a major upgrade, but there's a catch

With an expected debut in less than a month, we are finally getting our first look at the new Volkswagen T-Roc. Volkswagen’s popular SUV is going electric, but it will be the first to use a unique new Toyota-like powertrain. Here’s what to expect.

Volkswagen’s new SUV to debut as an EV, HEV, or both

The T-Roc was Volkswagen’s second most popular SUV globally last year, following the Tiguan. VW confirmed earlier this year that the “new generation of the T-Roc arrives in 2025,” and now we are finally getting our first glimpse of it.

Volkswagen previewed the new T-Roc for the first time on Monday, revealing its sleek new design that almost looks like a Porsche from the side.

According to Autocar, the second-gen T-Roc will be the first to use Volkswagen’s new full-hybrid powertrain. Like the Toyota Prius, it will utilize a gas engine and an electric motor, which can operate simultaneously.

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It will be the brand’s first production vehicle to feature the new powertrain. CEO Thomas Schäfer explained that VW is “experimenting now because certain regions are gliding into HEVs.”

Although we know Volkswagen’s new EV SUV is set to launch globally, including Europe and South America, will it arrive in the US? It’s a possibility. Schäfer added, “Interestingly enough, HEV has also become a big theme in the US specifically.”

Several automakers are shifting to hybrids in the US as “a bridge” to fully electric vehicles, including Ford, Honda, and Toyota.

Volkswagen’s chief said the company will “see where it makes sense” to add more hybrids to its lineup, adding “we’re not going to double everything up; we will have PHEV and HEV models.”

The hybrid system will not be featured on every new model based on the platform, a VW official told Autocar, but it will be used for the new-generation Golf and Tiguan models.

Volkswagen is expected to unveil the new T-Roc at the Munich Motor Show in Germany, starting on September 9. We will also likely get our first official look at the upcoming ID.2X SUV (previewed above). More details, including full powertrain specs and pricing, will be revealed closer to launch.

What do you think of the new design?

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Environment

XCMG XCS65K: it takes big machines to build big battery projects [video]

Published

4 hours ago

August 18, 2025

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XCMG XCS65K: it takes big machines to build big battery projects [video]

XCMG launches 65-tonne reach stacker for energy storage projects

The heavy equipment experts at XCMG have launched what they’re calling a “world’s first” 70 ton reach stacker designed specifically to support the construction of large, utility-scale battery energy storage system (BESS) projects.

Battery energy density is getting better, but that just means more kWh per lb. of battery. Batteries are still incredibly heavy, and the massive BESS projects that help support the grid, create a market for second life EV batteries, and create a market for excess renewable energy that would otherwise be curtailed require the precise and controlled placement of thousands of tons of batteries. The problem is that, while heavy equipment assets like telehandlers and excavators can get the job done, they aren’t built for that sort of work. That’s inefficient – and, with more than $100 billion worth of BESS projects set to come online in just the next five years, that’s a lot of room for process improvement.

The new XCMG XCS65K 65 tonne (70 ton, in imperial units) reach stacker is specifically designed to meet the logistics needs of large- and utility-scale storage projects, combining precise controls, specialized implements, and five-layer stacking capacity with advanced safety technologies to offer construction fleets a serious upgrade.

“The XCMG XCS65K is not just an upgrade; it’s the core driver of efficient delivery in large-scale energy storage projects,” explains Miao Fei, Deputy General Manager of XCMG Port Machinery. “With its unparalleled lifting capacity and precision, we’re solving the industry’s most challenging logistics challenges.”

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XCMG XCS65K features a high-precision micro motion system that provides millimeter-precise load control, an AI-powered anti-roll technology that instantly adjusts to varying load conditions, 360 degree panoramic imaging, and intelligent braking, ensuring safe operation in complex working environments, keeping the human workers in and around the machine safe, too.

The XCS65K received Chinese certification in April, and is now available globally. XCMG reports that customers have already reported significant improvements in operating efficiencies and turnaround times since deploying the new reach stacker.

Electrek’s Take

[embedded content]

China-based XCMG gained popularity (on this site, at least) because of its deployment of battery-swap technology in heavy equipment like dozers, haul trucks, and the XE215 excavator. These quiet, vibration-free electric equipment assets are moving thousands of tons of dirt every day, proving that HDEVs can get the job done, on and off highway – and now, they’re helping reinforce the electrical grid, too.

SOURCE | IMAGES: XCMG, via Makina Market.

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Google, Kairos Power plan advanced nuclear plant for Tennessee Valley Authority grid by 2030

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5 hours ago

August 18, 2025

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Google, Kairos Power plan advanced nuclear plant for Tennessee Valley Authority grid by 2030

Lenoir City, Tennessee, Electrical transmission equipment at the Fort Loudoun Dam, operated by the Tennessee Valley Authority.

Jim West | UCG | Universal Images Group | Getty Images

Alphabet’s Google and Kairos Power will deploy an advanced nuclear plant connected to the Tennessee Valley Authority’s electric grid by 2030, the companies announced Monday.

TVA has agreed to purchase up to 50 megawatts of power from Kairos’ Hermes 2 reactor. It is the first utility in the U.S. to sign a power purchase agreement with an advanced reactor like Hermes 2, according to the companies.

Hermes 2 is the first deployment under an agreement that Google and Kairos signed last year to launch the startup’s nuclear technology at a commercial scale. The reactor’s output is the equivalent of the consumption of about 36,000 homes. The electricity will help power Google’s data centers in Montgomery County, Tennessee, and Jackson County, Alabama.

Google, Kairos and TVA said their collaboration will move the U.S. a step closer to deploying advanced nuclear reactors by making sure consumers are not on the hook for the cost of building the plant.

Kairos and Google will bear the financial risk associated with building the first-of-a-kind project, the companies said. TVA, meanwhile, is providing the revenue stream the plant will need to operate through the power purchase agreement.

“We think this solves the problem of making sure that consumers don’t carry that first-of-a-kind cost and risk,” TVA CEO Don Moul told CNBC. “But it also allows innovators like Kairos Power and thought leaders like Google to bring this to market.”

Hermes 2 is expected to start operating at Oak Ridge, Tennessee, in 2030. Kairos received a construction permit for the reactor from the Nuclear Regulatory Commission in November 2024. It will need to apply for an operating license with the NRC before the plant can start operations.

TVA declined to disclose how much it will pay for electricity from Hermes 2 when asked by CNBC. Kairos declined to disclose the estimated cost of the plant.

Building nuclear again

The U.S. has basically stopped building nuclear plants due to the huge cost overruns and delays that plague the industry. The last two reactors built in the U.S. at Plant Vogtle in Georgia cost $18 billion more than expected and started operations seven years behind schedule in 2023 and 2024. The project’s problems contributed to the bankruptcy of industry stalwart Westinghouse.

Startups like Kairos believe their smaller plants will prove to be faster and more affordable to build than large reactors like those at Vogtle, helping to usher in a new era of nuclear construction in the U.S. Despite these promises, utilities have been reluctant to commit to small advanced reactors over concerns about the initial price tag.

Technology companies like Google, meanwhile, are investing in advanced nuclear because they want reliable, carbon-free power to meet the demand from artificial intelligence while adhering to their environmental goals. Google has placed orders with Kairos for reactors totaling 500 megawatts of power that are targeted to come online through 2035.

Rebar is placed at the Kairos Power Hermes foundation.

Courtesy: Kairos Power

“We specifically want to help commercialize,” Amanda Peterson Corio, Google’s global head of data center energy, told CNBC. “We want to see how can we take this from something small to something bigger that we can deploy at scale. That’s really what the Hermes 2 project is doing.”

One of Kairos’ goals with Hermes 2 is to create a standardized reactor design which will help cut the cost of future deployments, CEO Mike Laufer told CNBC. Kairos will also develop the supply and manufacturing infrastructure needed to launch at scale through the construction of Hermes 2, he said.

“We’d be ready to deploy multiple reactors in series at the same sites in a very cost-efficient way to deliver that power at affordable rates in the not too distant future,” Laufer said. Kairos and Google are exploring options on where future plants will be deployed, he said.

Oak Ridge, TVA nuke hub

Kairos’ technology is different than the reactors currently operating in the U.S. Its reactor design uses liquid salt as the coolant rather than light water, which allows the plant to operate at near atmospheric pressure. This means Kairos can use thinner and less expensive materials because the reactor is not under high pressure. Operating at low pressure also has safety advantages.

The 50-megawatt plant is also much smaller than the reactors in the current U.S. fleet that average 1,000 megawatts in output, which is enough to power an entire city. The Kairos reactor will increase its output to 75 megawatts when it launches on a commercial scale, Laufer said.

Hermes 2 will be deployed near Oak Ridge National Laboratory, which has a long history in nuclear science dating back to the Manhattan Project during World War II. TVA was established by Congress during the Great Depression as a public corporation to electrify the region. The utility remains owned by the federal government.

“This kind of sets the stage for east Tennessee to really be what we see as a regional hub for innovation for nuclear construction and operation, and that’s going to be valuable for the nation as well,” Laufer said.