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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 Q1 2025
Source: Rivian

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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Day 1 of the Electrek Formula Sun Grand Prix 2025 [Gallery]

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Day 1 of the Electrek Formula Sun Grand Prix 2025 [Gallery]

Today was the official start of racing at the Electrek Formula Sun Grand Prix 2025! There was a tremendous energy (and heat) on the ground at NCM Motorsports Park as nearly a dozen teams took to the track. Currently, as of writing, Stanford is ranked #1 in the SOV (Single-Occupant Vehicle) class with 68 registered laps. However, the fastest lap so far belongs to UC Berkeley, which clocked a 4:45 on the 3.15-mile track. That’s an average speed of just under 40 mph on nothing but solar energy. Not bad!

In the MOV (Multi-Occupant Vehicle) class, Polytechnique Montréal is narrowly ahead of Appalachian State by just 4 laps. At last year’s formula sun race, Polytechnique Montréal took first place overall in this class, and the team hopes to repeat that success. It’s still too early for prediction though, and anything can happen between now and the final day of racing on Saturday.

Congrats to the teams that made it on track today. We look forward to seeing even more out there tomorrow. In the meantime, here are some shots from today via the event’s wonderful photographer Cora Kennedy.

Stay tuned for more!

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Tesla sold 5,000 Cybertrucks Q2, Optimus is in chaos, plus: the Infinity Train!

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Tesla sold 5,000 Cybertrucks Q2, Optimus is in chaos, plus: the Infinity Train!

The numbers are in and they are all bad for Tesla fans – the company sold just 5,000 Cybertruck models in Q4 of 2025, and built some 30% more “other” vehicles than it delivered. It just gets worse and worse, on today’s tension-building episode of Quick Charge!

We’ve also got day 1 coverage of the 2025 Electrek Formula Sun Grand Prix, reports that the Tesla Optimus program is in chaos after its chief engineer jumps ship, and a look ahead at the fresh new Hyundai IONIQ 2 set to bow early next year, thanks to some battery specs from the Kia EV2.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

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Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.


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Tesla launches Oasis Supercharger with solar farm and off-grid batteries

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Tesla launches Oasis Supercharger with solar farm and off-grid batteries

Tesla has launched its new Oasis Supercharger, the long-promised EV charging station of the future, with a solar farm and off-grid batteries.

Early in the deployment of the Supercharger network, Tesla promised to add solar arrays and batteries to the Supercharger stations, and CEO Elon Musk even said that most stations would be able to operate off-grid.

While Tesla did add solar and batteries to a few stations, the vast majority of them don’t have their own power system or have only minimal solar canopies.

Back in 2016, I asked Musk about this, and he said that it would now happen as Tesla had the “pieces now in place” with Supercharger V3, Powerpack V2, and SolarCity:

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All of these pieces have been in place for years, and Tesla has now discontinued the Powerpack in favor of the Megapack. The Supercharger network is also transitioning to V4 stations.

Yet, solar and battery deployment haven’t accelerated much in the decade since Musk made that comment, but it is finally happening.

Last year, Tesla announced a new project called ‘Oasis’, which consists of a new model Supercharger station with a solar farm and battery storage enabling off-grid operations in Lost Hills, California.

Tesla has now unveiled the project and turned on most of the Supercharger stalls:

The project consists of 168 chargers, with half of them currently operational, making it one of the largest Supercharger stations in the world. However, that’s not even the most notable aspect of it.

The station is equipped with 11 MW of ground-mounted solar panels and canopies, spanning 30 acres of land, and 10 Tesla Megapacks with a total energy storage capacity of 39 MWh.

It can be operated off-grid, which is the case right now, according to Tesla.

With off-grid operations, Tesla was about to bring 84 stalls online just in time for the Fourth of July travel weekend. The rest of the stalls and a lounge are going to open later this year.

Electrek’s Take

This is awesome. A bit late, but awesome. This is what charging stations should be like: fully powered by renewable energy.

Unfortunately, it will be much harder to open those stations in the future due to legislation that Trump and the Republican Party have just passed, which removes incentives for solar and energy storage, adds taxes on them, and removes incentives to build batteries – all things that have helped Tesla considerably over the last few years.

The US is likely going to have a few tough years for EV adoption and renewable energy deployment.

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