Rivian and Volkswagen’s joint venture expands to $5.8 billion. Rivian expects to deliver 43,500 electric vehicles by the end of 2025, a 16% drop from last year. The company saw a jump in deliveries to 13,201 vehicles in the third quarter of this year, building 10,720 EVs.

Rivian struggles to grow sales as it prepares to launch the R2 SUV next year. It aims to build hundreds of thousands of R2 SUVs and has broken ground on a new factory in Georgia. Rivian initially aimed to match 2024’s sales but now expects to deliver between 41,500 and 43,500 vehicles this year.

The U.S. faces challenges in the electric vehicle market as automakers delay or cancel EV plans. Despite this, major automakers saw a boost in EV sales in the third quarter due to the expiring $7,500 federal EV tax credit. Rivian’s vehicles were only eligible for the subsidy if leased.

Rivian CEO RJ Scaringe remains optimistic about the company’s future post-credit phase-out. He believes other automakers may struggle without the federal subsidy, giving Rivian and Tesla an advantage. Scaringe predicts a thin competitive playing field for EV-focused companies like Rivian and Tesla through 2030.

Read more at Yahoo Finance: Rivian’s best-case guess for 2025 sales is a 16% drop from last year