Rivian, Lucid burn cash as challenges mount in U.S. EV market

Rivian posted a $4.7 billion net loss in 2024 and Lucid reported a $2.7 billion net loss last year, the companies said in late February.. — Rivian posted a $4.7 billion net loss in 2024 while Lucid's net loss was $2.7 billion. The cash burn comes amid new challenges in the U.S. EV market, including the potential elimination of the $7,500 consumer tax credit. (LAURENCE ILIFF/AUTOMOTIVE NEWS)

March 05, 2025 12:00 PM

Rivian Automotive and Lucid Motors racked up billions in losses last year amid modest sales numbers, rising factory incentives and growing uncertainty in the U.S. electric vehicle market following the November election of President Donald Trump.

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