Rivian Q1 2026 earnings- half came from Amazon
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They hit their development milestone with VW to unlock another 1B in funding as well as the deal with Uber for R2. But they also need significant cash injection to get R2 ramped up.
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They'll be fine. This is as expected as R2 becomes the main focus. A slight lag in sales Q1, some uptick in Q2 and then full throttle with Q3 and beyond. The deals with Amazon, VW and Uber along with the software sales are all huge bonuses. Rumors are also that we may see an update to the R1 line soon to not let it fall too far behind the R2, likely for 2027-2028.
I really do wish Lucid looked over Rivian's shoulder a bit. My confidence in Rivian is much higher than in Lucid, so hopefully the new CEO can make the right changes.
I really do wish Lucid looked over Rivian's shoulder a bit. My confidence in Rivian is much higher than in Lucid, so hopefully the new CEO can make the right changes.
Lucid is about a year behind Rivian in terms of their timeline, largely because their first vehicle was a sedan. Not really fair to compare their current status on a one-to-one basis.
Software sales have helped Rivian's bottom line but the argument can be made that it's not in their best interest, long term, to share perhaps their biggest asset with competitors. Particularly when Rivian isn't exactly excelling on the EV tech front.
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And Rivian started with an EV pickup truck, a market that is also shrinking. The SUV, which came later, is by far and away most of their sales. I hear this argument a lot and it just falls flat. You can very much compare both companies because they both released their first EVs around the same time. I'd argue this is actually another con for Lucid. Sedans have already been on the decline when the Air came out. Why was this first their product? They were working on it for while? Great. Rivian wanted to release a sports car first. They pivoted to a truck once they saw where the market was headed.
Rivian has proven that it can pivot and make deals. It is a matter of opinion on whether they are excellent on the EC tech front, but I'd argue they are making all of the right moves. They knew releasing the R2 was imperative and have focused on making it profitable and less complex to get it to market and turn things around. Lucid has yet to reveal their midsize. Rivian is putting their money where their mouth is. The first R2 vehicles came off the line for customers last week. They are delivering on their timeline.
To be clear - I am very much a Lucid fan. I have also owned a Rivian. The products for both are great. The companies behind them though are very different. I do want Lucid to succeed but its not hard to argue that they have been a little lost (software woes, service issues, supply chain problems). We can point fingers and make excuses all day long, but the brand image is not stellar currently while Rivian seems like they are figuring it out. I have been dying to buy a Gravity or an Air, both excellent vehicles, but my main hesitation, as I'm sure for many, is the company behind these products.
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Rivian started with Amazon before the R1T/R1S. VW's $6B investment in Rivian was mostly about SW access. From my personal experience, my R1S's SW is "flawless". I am not saying it has no bugs. But the SW performed solidly and updated regularly with detailed notes. I am not a very demanding SW person. I have not encountered any problem of note on my R1S SW. In contrast, Lucid's SW drives me crazy. My R1S is 2-1/2 years old. The ONLY service I needed was the annual maintenance.
Rivian is not going to become a VW with global reach. Their specialty is delivery trucks and adventure and practical vehicles (R1T/R1S/R2, etc.). Say what you will about the boxy, non-aerodynamic, not as luxurious as BMW/Lucid cabins etc.. But Rivian's products work, virtually no maintenance, no SW issues, good service, good value and on and on. Rivian still has to make a profit. I think they will. I used to own both LCID and RIVN stocks. I sold my LCID before the reverse split. I am hanging on my RIVIN.
When people knock Rivian about its lower efficiencies when compared with Lucid's, it is fair to say that Rivian is not as efficient. People often compare the manufacturer's claims vs actual experience and data. Lucid's efficient claims are exaggerated playing angles with the EPA tests. In contrast, Rivian's (and the German EV Mfgs) are much closer to real-life performance. Yes, Lucid's efficiencies are indeed better, but in real life, the competitors are MUCH closer to Lucid than you think!
For the avoidance of doubt, I'm not making excuses. Just explaining the impact of Lucid starting with the sedan. The R1T and R1S are essentially the same vehicle, so not at all comparable to Lucid creating a whole new architecture for the Gravity.
As I mentioned before, Lucid is about a year behind Rivian's timeline. They had to focus on the Gravity (which was released years later than R1S) before they could put full attention towards their midsize. Rivian also had the benefit of being able to carry over a lot of their R1S design to R2.
They are both working towards the same thing with the same urgency: trying to release a mass-market vehicle that is focused on cost optimization.
And just to add to this. Yes, Rivian's software is better. As it should be. They've had the same software architecture since day 1, so have had six years to refine it.
Again, these are not excuses, just explanations. This is on Lucid for deciding to revamp things with the Gravity.
Again, these are not excuses, just explanations. This is on Lucid for deciding to revamp things with the Gravity.
Problem with Rivian is they don’t design outside the box. Now a days, anyone can build a 400V 350 mile inefficient EV. They are talking a short cut- diluting their software proprietary tech to other competitors. Their midsize is a shrunken R1.
Short term this plays out, but long term, they will survive but at a cost.
I suspect the Gravity ate a lot if their sales in Q1.
Please note, Lucid midsize has “ mechanical” door handles. Unlike Rivian . Hey, but you get a torch in the door that you can’t open with the Rivian.
They are taking the easy route.
Short term this plays out, but long term, they will survive but at a cost.
I suspect the Gravity ate a lot if their sales in Q1.
Please note, Lucid midsize has “ mechanical” door handles. Unlike Rivian . Hey, but you get a torch in the door that you can’t open with the Rivian.
They are taking the easy route.
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When your company needs the cash, the "easy" route in the interim makes a lot of sense, though I'd hardly it call going mass market easy.
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Yes, 900V charging is faster, and Rivian should go there. Yes, a more aerodynamic body is better. Yes, some people consider the Rivian ugly.
Again, I'd point to the (late 2025) OoS Maine to Key West 2,600+ mile challenge as "Efficiency-in-real-life". Yes, Gravity won first and second place.....and the R1S came in 5th/6th? BUT, the margin of victory (Gravity over the R1S) was about 6-7% (of elapsed time) over more than 33 hours of the race. So, is Gravity's efficient better? Absolutely! But only about 6% better, including charging time.
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Simple: the PIF wanted it. Lucid didn’t have a choice but to build a Sedan first.
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Please keep this thread on topic. There are plenty of other threads to discuss your feelings about efficiency.
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Tesla's first product was the raodster. Then the sedan Model S, correct? And Rawlinson was (as he claimed) the chief engineer on the Model S.
Clearly a car like the Lucid Air allows Rawlinson and his crew to accentuate their engineering prowess vis-a-vis, low drag factor, powerful electric motors, low ground clearance, etc.. That's what happens when you have an engineer with no marketing experience running a car company. Lucid's main (perhaps only) real market is the US. Sedans have not been big sellers in the US for decades. I am not sure we can blame it on the Saudis.
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I had no idea. Thanks for the info!
It is a very beautiful sedan at that. I hope they continue to update it.
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I am not guessing.
(But I am also not blaming. I am simply relaying info I heard directly from the horse’s mouth)
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Perhaps the "horse" was an advocate of the sedan and convinced the Saudis'?
