All-electric automakers Lucid Group Inc. (NASDAQ:LCID) and Rivian Technologies Inc. (NASDAQ:RIVN) held their second-quarter earnings calls, sharing key insights into the performance of both companies with investors.
Lucid Lost $82,000 On Every Vehicle It Delivered
Lucid reported 3,309 deliveries in Q2 2025 with a revenue of $259 million, marking a 38% YoY increase in the number of deliveries, Lucid shared in its second-quarter earnings call on Tuesday.
However, the company also reported a cost of revenue totaling approximately $531 million in its earnings report, without factoring in additional costs like Research and Development.
Looking at the figure from the perspective of revenue as well as deliveries, the company incurred an approximate loss of over $82,000 on every car it delivered in the second quarter.
Rivian Says Trump Tariffs Will Impact Production Costs
Rivian, also holding its second-quarter earnings call on Tuesday, reported that President Donald Trump's tariffs could add a "couple thousand dollars per unit" to its production costs.
The company also shared that due to relaxation of CAFE norms and ZEV credits, Rivian "does not expect to earn revenue from these [ZEV credits] programs for the remainder of 2025," adding that total revenue from the credit would be $160 million for the year.
Rivian EPS Misses Estimates As Stock Declines
Rivian reported $1.303 billion in revenue, beating analyst estimates of over $1.2 billion for the company during its second-quarter earnings call. However, the company missed its EPS analyst expectations, reporting $0.97 loss vs analyst estimates of $0.72.
Rivian also reportedly lost over $19,300 on each unit it delivered in the quarter, according to a post shared on X on Tuesday by influencer Sawyer Merritt.
Rivian stock has declined over 6% since releasing its Q2 earnings report, according to data from Benzinga Pro. However, the company recently also reported hitting a 10-month high in sales despite the Trump administration's policy shifts.
Lucid Cut Its Delivery Guidance For 2025 Amid Uber Robotaxi Deal
Elsewhere, Lucid shared in its earnings call that it was revising its annual production guidance for 2025, lowering its production target from 20,000 units to a range of 18,000 to 20,000 units.
This comes as analysts had predicted the company would scale back on its production guidance. LCID stock also fell by more than 8% in overnight trading following the earnings call.
Meanwhile, the deal with Uber Technologies Inc. (NYSE:UBER) to deploy over 20,000 robotaxis on the platform over the next 5 years could solidify the company's future plans.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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