The Tesla challenger Rivian has the prerequisite for an investment of Volkswagen met in the amount of $ 1 billion. The money injection is now expected on June 30th, Rivian said. It is triggered that the electric car company made a gross profit in the second quarter in a row. Last year Volkswagen agreed to invest up to $ 5.8 billion in Rivian.
Volkswagen gains access to Rivian’s electronics architecture through the cooperation and hopes to help solve his software problems. Rivian pretend the billions Germany Air to raise the production of a cheaper model to increase sales in the coming year.
Load from tariffs
However, the uncertainty is currently causing President’s customs circuit Donald Trump (78) for headwind. Rivian reduced the delivery target for 40,000 to 46,000 vehicles this year. The target of 46,000 to 51,000 cars had been confirmed a good one month ago. So far, Rivian is building a large SUV, a pick-up and a delivery van used by Amazon.
Rivian boss RJ Scaringe (42) expects the import tariffs to increase the costs per car by “a few thousand dollars” this year. Beyond 2025, it was difficult to name an order of magnitude, he said in a conference call with analysts.
Hope for cheaper model
In addition, due to the uncertainty, consumers also acted more price -conscious when buying a car, Scaringe emphasized. And with the current models, Rivian came to an average sales price of $ 88,500 in the past quarter. “The size of this market is limited.” Therefore, Rivian rely on the future model R2 at a price of $ 45,000.
In the past quarter, Rivian’s sales remained at a good $ 1.2 billion at the previous year’s level. The bottom line was the loss of the California company to $ 541 million of $ 1.445 billion a year earlier.