Rivian Tops Q1 Expectations, Warns Trump Tariffs May Add $2,000 Per Vehicle

Rivian beat first-quarter expectations Tuesday and reaffirmed its 2025 earnings targets, according to CNBC. The EV maker trimmed its guidance for vehicle deliveries and increased capital spending amid rising costs from Trump’s tariffs. The EV maker reported a narrower-than-expected loss of 41 cents per share and $1.24 billion in revenue, driven by strong regulatory credit sales and growth in software and services. Rivian now expects to deliver between 40,000 and 46,000 vehicles this year, down from 46,000 to 51,000, and plans to spend up to $1.9 billion in capex, up from earlier guidance of $1.7 billion. CFO Claire McDonough said new tariffs could add “a couple thousand dollars” in costs per vehicle, even though all Rivian models are built in the U.S.