Rivian is still a start-up with plenty left to prove, but it's slowly and steadily marching towards being a mature company.
The car enthusiast community admires the R1T and R1S, but their steep sticker prices mean they have few takers. Rivian has also been hemorrhaging cash on every vehicle sold, but those losses are now narrowing, according to Chief Financial Officer Claire McDonough.
McDonough said in a new video that production improvements helped Rivian slash the cost of goods per unit sold by a whopping $31,000, helping the company achieve its first gross profit in the final quarter of last year.
We know that the R2, R3 and R3X are in the pipeline. But she also said there's more "magic" left to come out of Rivian's design studio. Now that's one way to leave us hanging.
—Suvrat Kothari, Staff Writer
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