Rivian (RIVN) Q3 2025 report: Revenues and deliveries rise, R2 closer than ever, plus a new AI co.
Rivian has just posted its latest letter to shareholders, detailing its financial numbers and accomplishments for Q3 2025. In addition to some steady financials, we’ve gained a clearer view of the American automaker’s 2025 outlook, as well as its timeline for the R2 next year. Oh, and apparently, it also created a new AI company.
As always, we will dig into the Q3 2025 report below, but we want to give a quick recap of what Rivian has been up to over the last three months. To begin, most of our coverage was speculative. We explored the possibility of the American automaker offering a “Grimace-like” purple exterior to customers in the future, and kept tabs on several patent filings the Rivian team had been busy submitting.
On the software side, Rivian rolled out several OTA updates in Q3 2025, including its annual Halloween theme, which I personally tested. Last month, we also confirmed that Rivian was laying off over 4% of its staff to lean down and optimize for the launch of its second all-electric model, the R2.
We have plenty of exciting information on that in Rivian’s Q3 2025 report, available below. Before then, however, Rivian shared a tidbit of its Q3 numbers, relaying that it had delivered 13,201 EVs, beating initial expectations.
The automaker also built 10,270 vehicles at its Normal, Illinois, production facility during that time. Normal has grown significantly to make way for the R2 as mentioned above, which was again outlined in Rivian’s Q3 2025 letter to shareholders, as shown below.
Rivian’s Q3 2025 report by the numbers
Rivian’s full financial report and letter to shareholders for Q3 2025 is available here, but we’ve noted some highlights below. As we outlined above, deliveries continued to rise from Q1 to Q3 2025 as Rivian reported the following tallies, respectively:
- 8,640 in Q1
- 10,661 in Q2
- 13,201 in Q3
Production is also up compared to only 5,979 builds in Q2 2025. These numbers make sense considering Rivian said it expected Q3 to be its peak quarter for the year. Here’s Rivian’s breakdown of notable revenues and gross profits:
- Revenues
- $1.56 billion consolidated revenues (+78% YoY)
- $1.14 billion of that was automotive revenues (+47% YoY)
- $416 million was from software and services revenue (a 324% increase YoY)
- Gross Profits
- $24 million of consolidated gross profit (+$416 million YoY)
- $(130) million automotive gross profit loss, (+$249 million YoY)
- $154 million software and services gross profit (+$167 million YoY)
As a result, Rivian as slightly honed in on some of its 2025 outlook compared to Q2:
| Current outlook | |
| Vehicles Delivered | 41,500 – 43,500 |
| Adj. EBITDA | ($2,000) million – ($2,250) million |
| Capital Expenditures | $1,800 million – $1,900 million |
Rivian Founder and CEO RJ Scaringe spoke in the Q3 2025 letter to shareholders:
In Q3, we continued to make significant progress across our strategic priorities which includes R2 and our technology roadmap. R2 delivers on the adventurous spirit customers expect from Rivian. It’s also a great daily driver that will fit so many different use cases for our customers. Over the long term, we believe the automotive industry will be fully electric, autonomous and software-defined. We continue to believe that Rivian’s vertically integrated technologies and direct-to-customer ownership experience position our company to build a category-defining brand with a strong product portfolio for the U.S. and European markets.
According to Rivian, it has recently completed construction of the R2’s new 1.1 million square-foot body shop and general assembly building at the Normal, Illinois, site, as well as a 1.2 million square-foot supplier park and logistics center.
The R2 validation builds are currently completing durability, performance, aerodynamics, thermal, and noise, vibration, and harshness testing. Rivian expects to begin manufacturing validation builds at the end of 2025, ahead of initial customer deliveries in the first half of 2026 (e.g., progress remains on track).
I would like to highlight another interesting point in the letter to shareholders. In Q3 2025, Rivian spun out a new e-bike brand called ALSO, which our team was able to experience firsthand. The automaker highlights that milestone in a section called “Innovation Leverage” on page ten, but theres something else worth mentioning – a second new company called Mind Robotics, that Rivian apparently founded in the past four days. Per the letter:
We believe there are synergies shared between the development of autonomous driving and physical AI. In November, we set up a new company, Mind Robotics, and secured approximately $110 million of external seed capital. Mind Robotics will focus on the advancement of industrial AI to reshape how physical world businesses operate and leverage Rivian operations data as the foundation for a robotics data flywheel. We believe AI-enabled robotics can support a wide range of industrial applications.
If you’re looking for details about Rivian’s new AI company, we already asked and this is all the public is getting, at least for now. Perhaps we will learn more during Rivian’s Autonomy and AI Day, which Rivian confirmed it will host on December 11, 2025. It promises to “share more details on the company’s autonomy vision and technology roadmap.”
For now, we will focus on the Q3 2025 numbers and letter to shareholders. As always, Rivian is following up with a live webcast at 5 PM ET today, available here.
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Tennessee EV charging infrastructure developer PowerUp America just ordered a minimum of 100 new DC fast chargers in Q3 from Kempower, the Finnish company with a manufacturing hub in North Carolina.
PowerUp America, a relatively new player in the DC fast-charging station scene, is preparing to launch its first-ever DC fast-charging station in Kentucky by the end of the year.
These chargers are headed to NEVI-funded sites, which means they must all comply with the Build America, Buy America rules. PowerUp America posted on X/Twitter in October that the 400 kW chargers were already rolling off Kempower’s manufacturing line.
Here’s where they’re going, in addition to the fast charging station in Manchester, Kentucky: five new stations in Tennessee and two in Virginia. That Kentucky site features amenities such as pull-through stalls for easy towing, a full turning radius, a canopy for shade and weather protection, and on-site facilities (likely including snacks and restrooms – you know the drill).
Each charger will offer both CCS1 and NACS connectors and will support tap-to-pay or app-based payments.
Josh Turner, CEO of PowerUp America, said, “Every new site is more than just a charger; it’s an investment in local economies, workforce development, and the transportation future we’re building across the Southeast.”
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Hyundai’s at it again. The automaker is extending its IONIQ 5 lease offer, keeping one of the most affordable EV deals in the US alive at just $189 per month.
Hyundai extends IONIQ 5 lease deal for $189 a month
The Hyundai IONIQ 5 is one of the most popular vehicles in the US, and for good reason. Hyundai updated it for the 2025 model year with more driving range (up to 318 miles), a revamped look inside and out, and a built-in NACS port for charging at Tesla Superchargers.
Hyundai was also offering IONIQ 5 leases as low as $189 per month, making it one of the most affordable options for those looking to go electric.
The offer was set to end on November 3, but Hyundai has extended it for at least another month. Through December 1, you can still lease a 2025 Hyundai IONIQ 5 SE RWD for just $189 per month for 36 months. With $3,999 due at signing, the effective cost is about $300 a month.
That’s still a pretty good deal, considering the 2025 Ford Mustang Mach-E Select RWD is listed for lease at $219 a month for 24 months. With $4,499 due at signing, the effective cost is $406 a month, or over $100 more than the IONIQ 5.
Upgrading to the IONIQ 5 SEL RWD with 318 miles of range costs just $50 more per month. The offer is listed at $239 for 36 months with $3,999 due at signing, or an effective rate of $350.
Hyundai reduced prices on the 2026 model year by nearly $10,000 on some trims after the federal tax credit expired at the end of September.
| Hyundai IONIQ 5 Trim | Driving Range (miles) | 2025 Starting Price | 2026 Starting Price* | Price Reduction |
| IONIQ 5 SE RWD Standard Range | 245 | $42,600 | $35,000 | ($7,600) |
| IONIQ 5 SE RWD | 318 | $46,650 | $37,500 | ($9,150) |
| IONIQ 5 SEL RWD | 318 | $49,600 | $39,800 | ($9,800) |
| IONIQ 5 Limited RWD | 318 | $54,300 | $45,075 | ($9,225) |
| IONIQ 5 SE Dual Motor AWD | 290 | $50,150 | $41,000 | ($9,150) |
| IONIQ 5 SEL Dual Motor AWD | 290 | $53,100 | $43,300 | ($9,800) |
| IONIQ 5 XRT Dual Motor AWD | 259 | $55,500 | $46,275 | ($9,225) |
| IONIQ 5 Limited Dual Motor AWD | 269 | $58,200 | $48,975 | ($9,225) |
The 2026 Hyundai IONIQ 5 was listed for lease starting at $289 per month, but that offer also ended on November 3. Hyundai has yet to update lease offers for the new model. We’ll keep you updated as soon as it’s posted.
Hyundai’s electric SUV remains one of the most affordable EVs in the US, alongside the Chevy Equinox EV and new Nissan LEAF.
For those looking for a spacious, efficient, reasonably priced SUV, the Hyundai IONIQ 5 is still worth checking out.
Interested in taking one for a spin? We’ve got you covered. You can use our link to find available Hyundai IONIQ 5 models near you.
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Polestar is about to make staying on course and finding your exit on the highway a lot less stressful. The EV maker is rolling out Google Maps’ new live lane guidance feature right onto the 10.2-inch driver display in the Polestar 4 – and it’s the first car brand to do so.
If you’ve ever missed an exit because you couldn’t get over in time, this one’s for you. Google Maps’ feature uses in-car AI to determine exactly which lane you’re in by analyzing road elements like road signs and lane markings from one of the Polestar 4’s forward-facing cameras. Then, it gives you visual and audio reminders to change lanes in time. No more guesswork, no more “oh no, that was my exit” moments.
You’ll see every possible lane highlighted for your route, along with a clear indication of which one you’re in. It’s designed to calm the chaos of multi-lane driving, especially in rush-hour traffic or sprawling interchanges.
Sid Odedra, Polestar’s head of UI/UX, says of the company’s latest collaboration with Google: “Live lane guidance continues the path of Polestar’s driver-centric UX strategy, reducing driver stress and improving safety by making missed exits and last-minute lane changes much less of a worry.”
The feature is coming first to Polestar 4 drivers in the US and Sweden “in the coming months,” via an over-the-air update. It’ll hit more markets and road types after that.
Google Maps’ Andrew Foster says this is just the next chapter in a partnership that began with the Polestar 2 in 2020, when it became the first car to ship with Google-built-in software. “Now, Polestar 4 will be the first to integrate our groundbreaking live lane guidance, which will help people drive with even more confidence.”
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links. More.
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