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EV maker Rivian cuts 2025 production target on tariff turmoil

  • On June 21, 2024, Rivian lowered its 2025 vehicle delivery forecast to 40,000-46,000 units from 46,000-51,000 at its Illinois factory in Normal.
  • The revision reflects rising production costs and uncertainty from evolving trade regulations, tariffs, and their possible effects on consumer demand.
  • Rivian raised its 2025 capital expenditure guidance to $1.8-$1.9 billion, expects tariffs to add about $2,000 per vehicle, and reconfirmed plans for positive gross profit this year.
  • CEO R.J. Scaringe acknowledged on an investor call that the company faces challenges related to worldwide trade and economic conditions, which could affect costs, supply availability, capital spending, and consumer demand.
  • Despite challenges, Rivian plans to complete its Georgia factory, create 7,500 jobs, maintain a $45,000 R2 SUV starting price, and advance profitability goals for 2025.
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ecotopical.com broke the news in on Monday, May 5, 2025.
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