Rivian reported its fourth-quarter and full-year 2024 financial results last week, along with setting its delivery guidance for the year and highlighting its Department of Energy (DOE) loan that now appears to be up in the air.
On Thursday, Rivian announced its Q4 2024 and full-year financial results in a press release, highlighting that it achieved a gross profit of $170 million in the fourth quarter, along with posting a $729 million improvement year-over-year to adjusted EBITDA. The release also highlights the electric vehicle (EV) maker’s $6.6 billion loan for a planned factory in Georgia, though recent developments with U.S. President Donald Trump and Elon Musk’s Department of Government Efficiency have called the investment into question.
Rivian produced a total of 12,727 vehicles in Q4 and delivered 14,183, along with full-year results of 49,476 produced and 51,579 delivered. The company initially targeted a 57,000 production guidance for 2024, reducing that in October to just 47,000 to 49,000 due to supply and production issues.
Last year, Rivian and Volkswagen also announced plans to launch a closed joint venture and software-platform partnership, which the companies closed on in Q4 for about $5.8 billion. The automaker says $3.5 billion of the funding will go to Rivian over the next few years, while the first $1 billion was posted in Q2’s earnings in the form of a convertible note.
“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,” said RJ Scaringe, Rivian CEO. “Our focus on cost efficiency across the business is critical for the launch of our mass market product, R2. The R2 bill of materials is approximately 95% sourced and is expected to be approximately half that of the improved R1 bill of materials.
“I couldn’t be more excited about R2, and I believe the combination of capabilities and cost efficiencies along with the amazing level of excitement from customers will make R2 a truly transformational product for Rivian.”
You can see Rivian’s 2025 guidance below, along with its full financial results for Q4 and full-year 2024.
Credit: Rivian Credit: Rivian Credit: Rivian Credit: Rivian Credit: Rivian




READ MORE ABOUT RIVIAN: Rivian tech attracts other OEMs after VW joint venture
The news comes amidst uncertainty surrounding Rivian’s Georgia loan, due to the Trump administration’s freeze on federal loans and grants. According to statements from Georgia Governor Brian Kemp last week, it’s still not clear whether Rivian’s loan, granted under the Biden administration, will be targeted as part of the push.
“You know, they [Rivian] secured that loan at the tail end of the Biden administration, and, you know, I think there’s no secret that the Trump administration is taking a look at all those things. So I don’t really know where that stands right now,” Kemp said in a statement to WSB-TV 2 Atlanta.
It also comes after Scaringe a few weeks ago said that he wasn’t nervous about Trump’s EV policies, adding that the DOE loan had already been granted through a “legally binding agreement with the DOE,” that had been “negotiated over the last couple years” and included a wide range of conditions the automaker must meet.
What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send us tips at tips@teslarati.com.
Rivian launches sales of once-exclusive van: price, specs, features
Need accessories for your Tesla? Check out the Teslarati Marketplace:
Elon Musk
Elon Musk just roasted Sam Altman’s Tesla Roadster cancellation
“And you forgot to mention act 4, where this issue was fixed and you received a refund within 24 hours.
But that is in your nature.”
Elon Musk has responded to OpenAI CEO Sam Altman’s decision to cancel his Tesla Roadster reservation, which he revealed on X on Thursday.
We reported on Altman’s decision, which he called “A tale in three acts,” showing his confirmation email from Tesla back in 2018, an email requesting his $50,000 deposit back after canceling his order, and a notification from Google that the email he sent was not delivered.
A tale in three acts: pic.twitter.com/ClRZBgT24g
— Sam Altman (@sama) October 30, 2025
Musk did not take too kindly to the post from his tech rival, first referencing his position with OpenAI, and then confirming that Altman received his reservation deposit back within 24 hours:
And you forgot to mention act 4, where this issue was fixed and you received a refund within 24 hours.
But that is in your nature.
— Elon Musk (@elonmusk) November 1, 2025
OpenAI was started by Musk, Altman, and others back in 2015, and was geared toward being a non-profit company that would develop safe artificial intelligence that would be accessible to people.
However, Musk and Altman did not agree on the future of the company. Musk left, and Altman turned OpenAI into a for-profit company. This led to a variety of lawsuits and some very public spats between the two. Musk has called out Altman for turning the company into a for-profit, which has been his main source of criticism for his former colleague.
The Roadster has been hanging in the balance of Tesla’s manufacturing plans for seven years, but the company has made more indications that it will be unveiled later this year and will have some insane technologies.
Musk said on Friday in an episode of the Joe Rogan Experience Podcast that Tesla is “getting close to demonstrating the prototype.”
He said:
“Whether it’s good or bad, it will be unforgettable. My friend Peter Thiel once reflected that the future was supposed to have flying cars, but we don’t have flying cars. I think if Peter wants a flying car, he should be able to buy one…I think it has a shot at being the most memorable product unveil ever. [It will be unveiled] hopefully before the end of the year. You know, we need to make sure that it works. This is some crazy technology in this car. Let’s just put it this way: if you took all the James Bond cars and combined them, it’s crazier than that.”
Musk hinted that the vehicle could fly and would have “crazy technology” that would put James Bond’s vehicles to shame. It will be interesting to see what Tesla will unveil when the event happens and if it can come through on this mind-blowing teaser.
News
SpaceX successfully launches 100th Starlink mission of 2025
With 100 Starlink missions completed for 2025, space enthusiasts have noted that SpaceX has successfully launched 2,554 Starlink satellites so far this year.
SpaceX achieved its 100th Starlink mission of the year on Friday, October 31, marking another milestone for 2025.
A Falcon 9 rocket carrying 28 Starlink broadband satellites successfully lifted off from Vandenberg Space Force Base in California at 4:41 p.m. ET, carrying another 28 Starlink satellites to Low Earth Orbit (LEO).
Falcon 9 booster’s 29th flight
Roughly 8.5 minutes after liftoff, the Falcon 9’s first stage touched down on the drone ship Of Course I Still Love You in the Pacific Ocean. This marked the booster’s 29th flight, which is approaching SpaceX’s reuse record of 31 missions.
This latest mission adds to SpaceX’s impressive 138 Falcon 9 launches in 2025, 99 of which were dedicated to Starlink, according to Space.com. The company’s focus on reusing boosters has enabled this breakneck pace, with multiple launches each week supporting both Starlink’s expansion and external customers.
Starlink’s network continues massive global expansion
Starlink remains the largest active satellite constellation in history, with more than 10,000 satellites launched, nearly 8,800 of which are currently active. SpaceX recently achieved Starlink’s 10,000-satellite milestone. With 100 Starlink missions completed for 2025, space enthusiasts have noted that SpaceX has successfully launched 2,554 Starlink satellites so far this year.
Starlink, which provides high-speed, low-latency internet connectivity even to the world’s most remote areas, has been proven to be life-changing technology for people across the globe. The service is currently operational in about 150 countries, and it currently has over 5 million subscribers worldwide. From this number, 2.7 million joined over the past year.
News
Tesla shares updated timeframe for Cybertruck FSD V14 release
The Cybertruck was expected to receive FSD V14 before the end of the month, but Tesla was not able to meet the target.
Tesla’s Full Self-Driving (FSD) V14 update for the Cybertruck could arrive this weekend, as per recent comments from Director of Autopilot Software and VP of AI Ashok Elluswamy.
The Cybertruck was expected to receive FSD V14 before the end of the month, but Tesla was not able to meet the target.
Cybertruck FSD V14
Considering the extended wait for FSD V14, it was no surprise that several Cybertruck owners were asking for updates about the system’s rollout to the all-electric pickup truck on Friday. These included the official Cybertruck X account, which responded to Elluswamy’s end of month estimate with “I only see trick. Where is my treat.”
This prompted a response from the AI executive, who replied with, “Sorry, pushing for early access Cyber release over the weekend.” This means that if all goes well, Cybertruck owners would be able to experience FSD V14 very soon. Some, however, are wondering if Tesla would go straight to V14.2 for the Cybertruck’s FSD V14 update, or if the vehicle will receive V14.1 first.
Tesla pushes to unify FSD experience across its lineup
The upcoming Cybertruck rollout represents the next step in Tesla’s efforts to roll out FSD capabilities across all of its vehicles. FSD V14 is a notable step forward for the company’s AI-driven self driving system, with features like Mad Max mode getting positive reviews from longtime Full Self Driving testers.
For the Cybertruck, the FSD V14 update would mark one of its first major over-the-air upgrades for the vehicle. Likely due to its size, the Cybertruck tends to receive FSD updates later than the S3XY lineup, which is quite surprising considering that the all-electric pickup truck is a premium-priced vehicle that is home to some of Tesla’s most advanced technologies.
-
News2 weeks agoElon Musk confirms Tesla FSD V14.2 will see widespread rollout
-
News2 weeks agoTesla might be doing away with a long-included feature with its vehicles
-
News2 weeks agoTesla updates fans on its plans for the Roadster
-
Elon Musk2 weeks agoElon Musk: Grok 5 now has a 10% chance of becoming world’s first AGI
-
News2 weeks agoTesla is ramping up its hiring for the Cybercab production team
-
News2 weeks agoMultiple Tesla Cybercab units spotted at Giga Texas crash test facility
-
Elon Musk2 weeks agoTesla will launch driverless rides in Las Vegas, but not where you think
-
News2 weeks agoTesla rolled out a new feature with FSD v14 to fix a major complaint

