share_log

From Volkswagen Partnership To Trimming Costs And Introducing Cheaper EVs: Rivian Steps On The Pedal To Touch Profitability

Benzinga ·  Jul 2 08:39

California-based EV makerRivian Automotive Inc.has been gaining investor interest in the past week, mostly due to a major investment by German automakerVolkswagenin the latter part of June. But there is more to the company's attempts at achieving profitability.

Financial Shape:Rivian, despite its R1 vehicle offerings that have been well received, is yet to turn a profit. The company has been accumulating losses for every vehicle it delivered until the first quarter of 2024 when it made a loss of nearly $39,000 for each of the 13,588 vehicles it sold.

While this is a significant loss to incur...

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment