this post was submitted on 20 Feb 2025
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Electric Vehicles

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Electric Vehicles are a key part of our tomorrow and how we get there. If we can get all the fossil fuel vehicles off our roads, out of our seas and out of our skies, we'll have a much better environment. This community is where we discuss the various different vehicles and news stories regarding electric transportation.

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Rivian (RIVN) hit its gross profit goal in Q4, now what? (electrek.co)
submitted 4 months ago by MyOpinion@lemm.ee to c/electricvehicles@slrpnk.net
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Rivian posted total fourth-quarter revenue of $1.73 billion, easily topping Wall St expectations of $1.4 billion. Total automotive revenue was $1.52 billion, primarily from the 14,183 vehicles Rivian sold in the quarter. Rivian also generated $299 million from the sale of regulatory credits and $484 million from software and services. Rivian Q4 2024 Revenue: $1.73 billion vs $1.4 billion expected Rivian Q4 EPS loss: 0.46 loss per share vs 0.68 loss per share expected CEO RJ Scaringe said, “This quarter, we achieved positive gross profit and removed $31,000 in automotive cost of goods sold per vehicle delivered in Q4 2024 relative to Q4 2023.” Rivian generated $110 million in automotive gross profit in the quarter compared to a loss of $611 million in Q4 2023. For the full year, Rivian generated a negative automotive gross profit of $7 million, an improvement from the $12 million loss in 2023.

This is very good news!

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