Rivian said on Tuesday its production numbers fell sharply in the second quarter of 2025 but deliveries rose, as the U.S. electric vehicle maker pushed ahead with preparations for the launch of its new R2 model next year.
The company produced 5,979 battery-electric vehicles at its Normal, Illinois plant in the quarter, down from 14,611 in the previous period, due in part to what Rivian described as “a variety of supply chain complexities partially driven by shifts in trade policy.” Deliveries, however, increased to 10,661 vehicles from 8,640 in the first quarter.
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“We are maintaining the range of our delivery guidance to 40,000–46,000,” the company wrote in its shareholder letter. “We anticipate the third quarter to be our peak delivery quarter of the year across both our consumer and commercial vehicles. Due to some of the recent changes associated with regulatory credits and our second quarter performance, we are increasing our guidance for adjusted EBITDA losses to ($2,000) million–($2,250) million.”
Total revenue rose both sequentially and year-on-year, but higher production costs left gross profits flat. Rivian maintained its capital expenditure guidance for 2025 at $1.8 billion to $1.9 billion.
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The company reiterated that the R2’s development remains on track, with construction of a 1.1 million-square-foot plant expansion in Normal nearly complete. Installation of production tooling is underway, and commissioning of the new line is expected in the third quarter. Rivian said validation prototypes of the R2 are currently being built at a pilot production facility in California.
“During the second quarter we made significant progress towards our development of R2, and advancements in AI,” Rivian said in the letter. “Due to our sourcing efforts and contracts we have in place, we are confident R2 will launch at an advantaged cost structure as compared to R1 and expect it to have a quick path to positive gross profit.”
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To make room for the R2 ramp-up, Rivian plans to halt production at its Illinois facility for three weeks in September, after which annual manufacturing capacity is expected to increase to about 215,000 vehicles.
The company also highlighted a $1 billion equity investment from Volkswagen Group, part of a broader $5.8 billion joint venture agreement announced earlier this year, and the opening of new offices in the UK and Atlanta, Georgia.
