Rivian has recently released its latest letter to shareholders, providing an in-depth look at its financial performance and key achievements for Q3 2025. Alongside steady financial growth, the letter offers insights into the American automaker's 2025 outlook and the anticipated timeline for its upcoming model, the R2. Notably, Rivian has also ventured into the artificial intelligence space by establishing a new company focused on AI technologies.
Over the past three months, Rivian has made headlines for several reasons. Much of our coverage has centered around speculative developments, including the potential introduction of a “Grimace-like” purple exterior option for customers, as well as numerous patent applications submitted by the Rivian team. Additionally, Rivian has implemented several over-the-air (OTA) software updates in Q3 2025, including a festive Halloween theme that I had the opportunity to test personally.
In a significant operational move, Rivian announced the layoff of over 4% of its workforce, aiming to streamline operations ahead of the launch of its second all-electric model, the R2. The Q3 report contains a wealth of exciting information regarding these developments, which we will delve into shortly. As a preliminary highlight, Rivian reported delivering a total of 13,201 EVs in the quarter, surpassing initial expectations.
During Q3 2025, Rivian's production facility in Normal, Illinois, manufactured 10,270 vehicles, a significant increase as the site expands to accommodate the R2 model. This growth aligns with Rivian’s projections that Q3 would be its peak quarter for the year. The deliveries for the year thus far have been impressive, showing a steady rise:
Q1 2025: 8,640 deliveries Q2 2025: 10,661 deliveries Q3 2025: 13,201 deliveriesRivian's financial highlights for Q3 2025 reveal notable revenue growth:
Consolidated Revenues: $1.56 billion (+78% YoY) Automotive Revenues: $1.14 billion (+47% YoY) Software and Services Revenue: $416 million (+324% YoY)In terms of gross profits, Rivian reported:
Consolidated Gross Profit: $24 million (+$416 million YoY) Automotive Gross Profit Loss: $(130) million (+$249 million YoY) Software and Services Gross Profit: $154 million (+$167 million YoY)In the shareholder letter, Rivian Founder and CEO RJ Scaringe emphasized the company’s commitment to its strategic priorities, including the R2 model and its technological roadmap. He stated, "R2 delivers on the adventurous spirit customers expect from Rivian. It’s also a great daily driver that will fit so many different use cases for our customers." Scaringe further affirmed Rivian's belief that the automotive industry will evolve to be fully electric, autonomous, and software-defined.
Significantly, Rivian has completed the construction of a new 1.1 million square-foot body shop and general assembly building at its Normal facility, along with a 1.2 million square-foot supplier park and logistics center. The company is currently conducting validation builds for the R2, which are undergoing extensive testing to ensure performance and reliability. Rivian anticipates starting manufacturing these builds by the end of 2025, with initial customer deliveries slated for the first half of 2026.
Another intriguing development highlighted in the letter is Rivian's launch of a new e-bike brand called ALSO, which our team had the chance to experience firsthand. This initiative is part of Rivian's broader strategy to leverage innovation in various mobility sectors. Moreover, Rivian has recently established a second new company, Mind Robotics, focusing on the integration of autonomous driving and physical AI technologies. The company has secured approximately $110 million in external seed capital to support its mission.
Mind Robotics aims to revolutionize the way businesses operate through AI-enabled robotics, utilizing Rivian’s operational data to create a robust robotics data flywheel. While details about this new venture remain limited, Rivian plans to unveil more information during its upcoming Autonomy and AI Day on December 11, 2025, where the company will share insights into its autonomy vision and technology roadmap.
Rivian's Q3 2025 shareholder letter reflects a period of significant growth and innovation for the company. With robust financial metrics, an exciting product roadmap, and new ventures in the AI space, Rivian is well-positioned for continued success in the evolving electric vehicle market.
