Why Is EV Maker Rivian Automotive Stock Plunging Today?

Shares of Rivian Automotive, Inc. RIVN are trading lower on Wednesday after the first-quarter delivery and production figures.

The electric vehicle manufacturer built a total of 14,611 vehicles at its Normal, Illinois facility and delivered 8,640 units during the quarter ending March 31, 2025.

Rivian’s first-quarter delivery is a 36.4% decrease from the same period last year. Meanwhile, production increased 4.5% year-on-year.

These results align with the company’s earlier projections of around 14,000 vehicles produced and approximately 8,000 delivered.

Also Read: Ford Q1 US Auto Sales Dip 1.3%: Details

Additionally, Rivian reaffirmed its full-year 2025 delivery guidance, maintaining its estimate of shipping between 46,000 and 51,000 vehicles, less than the 51,579 deliveries reported in 2024.

Rivian’s R2 model, priced in the same range of Tesla’s best-selling Model Y SUV, is expected to begin production in the first half of 2026. 

Last week the company spun off its micromobility business into a new company, Also, Inc, to focus on developing small, lightweight electric vehicles designed to address global mobility challenges.

It is to be noted that Rivian is expected to be less affected from the tariff imposition than companies that rely on foreign imports.

President Trump introduced a 25% tariff on auto imports, aiming to stimulate domestic production as the increased costs will incentivize the opening of more factories within the U.S.

In a related update, Rivian confirmed that it will release its first-quarter 2025 financial results on May 6, 2025, after market close.

Price Action: RIVN shares traded lower by 6.48% at $12.42 at last check Wednesday.

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