In the fourth quarter of 2024, U.S.-based electric vehicle manufacturer Rivian recorded its first positive quarterly gross margin, a significant milestone attributed to its effective cost improvement measures. For the entire year, Rivian generated revenues amounting to $4.97 billion, signifying a robust 12% year-over-year growth. Despite incurring a gross loss of $1.2 billion, an operating loss of $4.689 billion, and a net loss of $4.746 billion, the company managed to produce 49,476 vehicles and deliver 51,579 to customers. Looking ahead, Rivian projects delivering between 46,000 and 51,000 vehicles in 2025.

Rivian's founder and CEO, RJ Scaringe, emphasized that the company remains committed to enhancing cost efficiency and expressed great anticipation for the upcoming mass-market model R2. This new model is expected to have a bill of materials cost that is approximately half that of the current R1 model, heralding a promising shift towards greater affordability and market penetration.