Rivian Grows Revenue, Cuts Losses as it Readies for Q2 Debut of All-New R2

The EV maker saw its overall revenue for all of 2025 increase 8 percent to $5.39 billion from $4.97 billion in 2024. The company’s net loss for the year was $3.67 billion, a 26 percent improvement compared to a year ago, when it lost $4.75 billion.

The biggest impact on Rivian’s finances was a threefold increase from non-automotive revenue, attributable to its vehicle electrical architecture and software development services from the joint venture with Volkswagen Group, as well as increased remarketing sales and vehicle repair and maintenance services.

The company’s automotive revenue for 2025 actually fell to $3.83 billion from $4.49 billion for the previous year, much of that due to the decline in deliveries after the end of the federal tax credit for EVs ended Sept. 30, 2025.

Company officials told shareholders in a letter that the company’s second product line, the R2, should be in buyers' hands sometime during the second quarter of this year. The first pre-production models rolled off the line in Normal, Illinois, in January. Since then, they’ve allowed selected social media influencers and journalists to test them to get early impressions.

“During the event, attendees drove a Dual-Motor R2 on a mixed on-road and off-road loop,” the company wrote in a letter to shareholders. “We received incredible feedback on the vehicle, its features and its performance.”

The R2 launch variant will be a well-equipped Dual-Motor AWD variant capable of 0–60 in 3.6 seconds with over 300 miles of range, officials noted, adding the starting price of about $45,000 is less than the average price Americans are currently paying for a new car, which is just under $50,000. They noted more details will be released March 12.

In the fourth quarter of 2025, Rivian produced 10,974 vehicles and delivered 9,745 vehicles, a sequential step down in deliveries, primarily driven by lower R1S and R1T volumes. The volume drop was expected due to the expiration of EV tax credits. For the full-year 2025, the company produced 42,284 and delivered 42,247 vehicles.

While much of the industry is preparing for a tough year for 2026, Rivian gave optimistic guidance. It expects to cut its losses further to between $1.8 billion and $2.1 billion. It also expects to deliver more vehicles, estimating 62,000 to 67,000 vehicle deliveries in 2026, much of that due to the arrival of the R2.

[Images: Rivian]

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