Electric vehicles might be the future, but profitability? That’s still a rare luxury in the EV world. An interesting study has revealed that just four EV-only brands are currently operating at a profit, while many others continue to bleed money at impressive rates. It probably won’t shock anyone that Tesla and BYD are leading the charge, but some of the other top-performing names are a bit less expected.

Read: Only 1 In 7 Of Today’s Chinese EV Brands Will Be Profitable By 2030, Analysts Claim

The study examined the operating income ratios of major EV brands and found that in 2024, Tesla reported an operating margin of 7.2%, putting it just ahead of BYD at 6.4%. However, while Tesla’s margin has declined since 2023, BYD’s has been climbing. If that trajectory holds, as many analysts expect, BYD could soon surpass Tesla in operating profitability.

Vertical Integration Pays Off

Key to the growth of both of these brands is that they are vertically integrated, helping them to scale and reach profitability sooner. The only other two brands analyzed by the study to have reached profitability are China’s Li Auto and the Series Group, which includes the Seres, Aito, and Landian brands.

While none of the other EV brands analyzed turned a profit in 2024, a few are edging closer. Zeekr, part of the Geely group, reported an operating margin of -8.5% last year. But with sales on the rise, it may soon begin delivering profits for its parent company. Xpeng and Leapmotor are also moving in the right direction, having more than halved their losses between 2023 and 2024.

Nio is another important player in China’s EV market, but not a profitable one. Its 2024 operating margin came in at over -30%, suggesting it still has a long climb ahead before it sees black ink on its balance sheet.

Tesla Stands Alone Outside China

Tesla remains the only non-Chinese EV brand to hit profitability. Polestar hasn’t crossed that threshold yet, though it did manage to reduce its losses in 2024. Similarly, Rivian also remains in the red, though like Polestar, it continues to receive substantial external funding.

At the other end of the spectrum, Lucid holds the dubious honor of running the steepest losses in the EV sector. According to data from Rho Motion, its 2024 operating margin was -374%. That’s an improvement from over -500% the year before, but still, not exactly a sign of financial health. Heavy backing from Saudi Arabia is helping Lucid stay afloat despite the massive shortfalls.

How many times have we seen Rivian owners grumble about spending a small – or sometimes large -fortune on seemingly minor repairs after a fender bender or mishap? Dominic Wilkerson uses his Rivian R1T like the off-road-ready truck that it is. As such, he’s had a mishap or two on the trails.

In one recent incident, he accidentally damaged his rear tail light and tailgate. Rather than take it to Rivian for an expensive repair, he decided to tackle the job himself. The result? The total cost came in under $1,000, and the truck looks almost as good as new.

More: Can You Believe This Rivian R1T Damage Repair Cost $21,000?

As Wilkerson points out, many Rivian owners (rightly) live in constant fear that any kind of damage, no matter how minor, will result in a total loss. And, honestly, those folks aren’t totally out of their minds. Rear-end damage to a Rivian can be both expensive and complicated to fix, as we’ve seen time and time again. But Wilkerson wasn’t about to roll over and accept that fate. He took matters into his own hands.

The Repair Process: Not As Hard As It Sounds

First, he needed a tail light, which he sourced from Rivian’s Seattle service center for $700. In the video below, he demonstrates exactly what it takes to replace the part. In short, it’s a simple procedure that most gearheads and shadetree mechanics can accomplish. The really tricky part of the entire process was fixing the dents he’d put in his tailgate.

As it turns out, though, he’s familiar with paintless dent repair. No, he didn’t tackle the job himself, but rather he sourced a high-quality PDR professional to do the work. For just $200, the technician managed to pull out the big dents in his tailgate and even straighten some imperfections in the middle of it.

While Wilkerson admits that it’s not technically perfect, it’s the kind of fix that most people wouldn’t notice from 10 feet away. His attitude about it now is that, while he might eventually get the rest fixed, part of him appreciates the “battle scars” that show his truck is actually used for what it was made for.

Why Not Use Insurance?

Now, some readers might be asking why Wilkerson didn’t just file an insurance claim. Well, he addressed that too. “By the time I go through the whole process, I’d be without my vehicle for weeks,” he explained. And that’s a very valid concern. Given the notoriously long repair wait times at Rivian service centers, it’s not surprising that many owners would rather avoid the hassle entirely.

Review: The 2025 Rivian R1S Is An Imperfect But Promising Look At The Future

On top of that, insurance companies are totaling more vehicles than ever before. A recent study says that there’s a 42 percent chance of damage leading to a total loss than there was just a few years ago. While Wilkerson’s incident might not have led to that outcome, doing it the way he did assured that it wasn’t even possible.

Damaged tail light and big dent fixed by DIY and PDR for under $1000
byu/Domphotog inRivian

Lead image Dominic Wilkerson

With the Rivian R1S starting at $75,900 in the United States, it’s safe to say no one expected it to rival the volume of more affordable, everyday EVs. But in January, the R1S managed to secure a surprisingly impressive spot as the fifth-best-selling new EV in the country, placing it alongside some pretty elite company.

Rivian itself does not release monthly sales figures, but according to data from Cox Automotive, the only EVs to outsell the R1S were the Tesla Model Y, Tesla Model 3, Ford Mustang Mach-E, and Honda Prologue. While exact sales figures for these models weren’t revealed, the data shows that Rivian moved more than 4,000 vehicles in February.

Review: The 2025 Rivian R1S Is An Imperfect But Promising Look At The Future

It comes as no shock that Tesla continues to dominate the EV market, but its grip is loosening ever so slightly. In February, overall Tesla sales fell by 10%, largely due to a steep 32.5% drop in Cybertruck deliveries and 17.5% fewer Model 3s sold. Even the best-selling Model Y saw a modest dip of 3.1%. It’s clear that the company’s previous growth spurt may be slowing down, but they’re still in the driver’s seat.

Looking at the US market more broadly, new EV sales declined slightly in February with 95,692 total sales. This was a 5.9% fall from January 2025 but up 10.5% from February last year. Similarly, used EV sales dropped 4.7% from January, but soared 34.2% from February 2024 to 24,875 units, representing 1.7% of all used cars sold. The market share of new EVs sold fell slightly to 7.7%.

When it comes to the used EV market, Tesla continues to reign supreme, accounting for a dominant 39.9% of all used EV sales last month, although its sales dipped by 9.2% compared to January.

On average, new and used EVs continue to sell for more than their internal combustion engine counterparts. However, this is mainly due to the wider price range of ICE vehicles, which pulls their average transaction price down. EVs, by contrast, tend to be more expensive from the start, leading to a higher average.

More: These Are The Cars With The Highest And Lowest Depreciation After 5 Years

In February, the average transaction price (ATP) for a new EV was $55,273, reflecting a 3.7% increase from the previous year and notably higher than the ATP of a new ICE vehicle, which sat at $47,555. Used EVs aren’t much of a bargain either, with the average ATP for a used EV at $38,057, significantly more than the $33,134 ATP for a used ICE vehicle.

Rivian has a lot on their plate, but that hasn’t stopped them from creating a new spin off. Known as Also Inc, the micromobility business will be focused on “small, lightweight vehicles that are designed to meet the global mobility transportation challenges of today and tomorrow.”

According to the automaker, they started a stealth micromobility program several years ago as they recognized the “massive need for small electric form factors.” The company went on to say “as these efforts advanced, it became clear that Rivian’s approach had the potential to unlock a large opportunity that deserved to be its own company, optimized around different products, brand positioning, and markets.”

More: Rivian R1 Lineup Gains 850 HP California Dune Edition

While little of substance is known about Also, it received a $105 (£81.5 / €97.6) million investment from Eclipse Ventures. However, Rivian will retain a “substantial minority ownership stake” and expects “opportunities for future collaboration” such as using Rivian stores to showcase Also products.

Rivian CEO RJ Scaringe will serve on Also’s Board of Directors as its Chairman and he released a statement saying, “For the world to fully transition to electrified transportation, a range of vehicle types and form factors will be needed.” The executive added, “I am extremely excited about the innovations developed by the Also team that will underpin a range of highly compelling micromobility products that will help define new categories.”

As for what’s coming from Also, Scaringe mentioned that the first product will launch in early 2026, with the “product portfolio and incredible technology” being unveiled later this year. How exactly that will all unfold remains to be seen.

The announcement has been met with a shrug on Wall Street as Rivian stock is down 1.82% as of this writing. However, with so few details, it’s hard to get excited about Also, which could simply become an also-ran.

Rivian has teamed up with camping gear brand iKamper to offer a new rugged tent designed for the R1T truck and R1S SUV. Considering both of these vehicles are made with adventure-loving drivers in mind, it makes sense that Rivian would offer such a product directly through their Gear Shop.

The tent, known as the Skycamp Mini, weighs 137 lbs (61.8 kg) and has been designed to be mounted to roof racks on either the R1T or R1S, or to sit over the bed of the R1T. iKamper’s tent is housed within a hardshell and folds out into position in just a minute. According to the company, the aerodynamic design of the shell does not hinder the driving range of the two Rivian models.

Read: Level Up Your Rivian R1T With This Rooftop Camper And Topper

Other Rivian touches present include blacked-out hardware and Rivian branding. It’s constructed using breathable PFAS-free fabric, sleeps 1 or 2 people, and is suitable for year-round use, regardless of the season. It also comes standard with a self-inflating mattress and locking crossbar brackets compatible with Rivian’s Adventure Key set.

The Price Tag

Here’s where things get a bit tricky. iKamper already sells a nearly identical version of the Skycamp Mini, just without Rivian’s branding, for $3,895. But the Rivian-branded version—because, apparently, the logo makes it worth more—comes in at $4,595. Sure, some might think it’s worth the premium for the exclusive Rivian flair, but for many, that’s a tough pill to swallow.

This isn’t the only rooftop tent Rivian offers. For the past couple of years, it’s been selling a $2,800 two-person tent for the R1S created in partnership with Yakima. However, unlike the iKamper option, this one does not have a hardshell case, or a self-inflating mattress.

If you’re planning to turn your R1 into a full-on mobile base camp, you’ll also need to shell out another $1,400 for the Travel Kitchen, which Rivian also sells. This setup includes two cooktops powered by a 1500W system that runs off a 120V outlet. It folds away for storage, and it’s part of the expanding Adventure Gear lineup.

Rivian introduced the R2 a little over a year ago and it’s slated to arrive in the first half of 2026 with a base price of around $45,000. Fast forward to today and there’s excitement about a possible R2T as Rivian has filed a trademark application for the moniker.

Unfortunately, you shouldn’t get your hopes up as this isn’t a new development. Quite the opposite as Rivian originally filed an application for the R2T trademark in October of 2018. However, it was abandoned on June 20, 2022.

More: The 2026 Rivian R2 Looks Even Better Up Close

Shortly before that happened, Rivian filed another application for the R2T trademark. This one appears to be far more detailed as it applies to “land vehicles” as well as a dizzying array of parts and components. These range from sun visors and mud flaps to motor vehicle bodies, electric motors, and insignia for vehicles.

The latest application is active, but it doesn’t mean fans should get overly excited about it. Automakers routinely trademark possible names for their vehicles, especially ones that are similar to names already in use. In particular, BMW used to have a trademark for the X8 moniker, but it was cancelled early last year.

That’s not to say there couldn’t be an R2T in the future, but Rivian has their plate full at the moment. Besides the R2, the company has already announced plans for an R3 and R3X. The models are slated to be built at a new manufacturing plant near Social Circle, Georgia and production could begin as early as 2028.

The first-ever R1S police cruiser has officially made its debut in the United States, and it’s headed straight to Palo Alto, home to Rivian’s sprawling facility. The electric SUV was unveiled at a recent event at Rivian’s headquarters, where local Mayor Ed Lauing took a moment to shower the company with praise.

Interestingly, this charter city in the northwestern corner of Santa Clara County is also home to Tesla’s new global engineering HQ, which has been operating there since 2023. Yet, for some reason, Elon Musk’s brand didn’t quite make the cut.

Read: 2025 Rivian R1S And R1T Combine Tired Looks With New Tech And More Power

Unlike the louder, garish designs you might expect from a police cruiser, the R1S keeps it understated. Most of the exterior is decked out in gloss black, while the front doors get a clean white trim. The department’s badge makes a neat appearance on the sides, adding just enough flair to remind everyone this is a police vehicle—not a luxury SUV on a road trip.

The R1S Cruiser Still Needs a Few Tweaks

For now, the R1S doesn’t have the customary red and blue roof light bar—it just didn’t arrive in time for the event. There’s also talk of a push bar being added, as well as other custom equipment for the cabin. Rivian’s engineers are reportedly working closely with the city to get the SUV ready for active duty.

Palo Alto’s Captain James Reifschneider spoke to Palo Alto Online, noting that the R1S offers significantly more cabin space than the Ford Explorers and Jeep Durangos currently used by the department.

While giving his State of the City presentation, Palo Alto Major Ed Lauing praised Rivian and his plans for the area.

More: California Cops Speak Out Against Tesla Police Cars, Call Them Unfit For Duty

“The electric car was created years before Rivian first shipped their EV, but Rivian wanted to be the best EV in the future, not the first EV of the past,” he said. “That sounds a lot like Palo Alto to me because Palo Alto is a great place to live and work and shop and play and go to school and that isn’t enough. We’re always looking to be more innovative going forward and to make our place in Palo Alto even better.”

Other Police EVs

Palo Alto is far from the only city jumping on the EV police cruiser bandwagon. Several agencies in California have started adding electric vehicles to their fleets, but the transition hasn’t been without its challenges.

The South Pasadena Police Department has replaced its entire fleet with Tesla Model 3s and Model Ys, but some departments have complained about the lack of space offered by these two Tesla models. The Rivian R1S is much larger, but it’s also much more expensive, starting at $75,900 in base guise before any expensive upgrades are made.

There’s no word on whether police in Palo Alto plan to add more Rivian models to their fleet.

Opening image via Rivian Forums

It’s been months since Fisker pulled the plug and left its customers high and dry, but now, there’s a glimmer of hope for those who were left holding the bag. Rivian, teaming up with Chase Bank, is offering Fisker buyers a way out of their unfortunate predicament. The deal? Sell your Fisker to Rivian or Chase, and you’ll likely make thousands more than trying to offload it on the open market.

Law firm Hagens Berman is reaching out to Fisker owners with the news that they can now sell or trade in their vehicles. Rivian is even allowing owners to use the sale of their Fisker as part of a down payment for one of their R1S or R1T models, if they’re interested in an upgrade.

Read: Nikola Goes Bankrupt As Startup Once Valued Higher Than Ford Runs Out Of Cash

Fisker owners are offered three options: selling to Rivian, trading in to Rivian, or selling to Chase if their car is in an inoperable state. According to the letter, the “fixed price will be an amount equal to the purchase price minus an amount for usage of the vehicle since… purchase.” The move looks like a serious lifeline for Fisker buyers who could’ve spent nearly six figures to get an early Ocean, only for Fisker to fold faster than a lawn chair.

According to posts on social media, Rivian and Chase are sending out this deal via snail mail to Fisker owners. In some cases, they’re offering over $36,000 for an SUV that will never again receive any sort of factory support.

It’s not hard to see why this marketing move makes sense. Rivian is targeting a group of buyers who are desperate to escape the financial mess Fisker left behind. At least Rivian has lasted long enough to build a second-gen car and looks far more healthy as a company than Fisker ever did.

While this isn’t exactly the fairy tale ending Fisker buyers were hoping for, it’s a way out for those who want to escape a rapidly depreciating investment. Rivian is capitalizing on the situation by offering a simple solution, making it much easier for disillusioned owners to make a fresh start.

We’re just a few years away from the next-generation VW Golf, and it’s been confirmed that it will use the trick software architecture VW is co-developing with Rivian. The new Golf is expected to launch in 2029 and as always, it will be a very important model for the brand, offered exclusively as an EV and sold alongside the current Mk8 Golf.

The VW Group has committed $5.8 billion to its partnership with Rivian, co-developing a new electric architecture to be used by future models from both automakers. The new architecture will consolidate the complexity of current VW systems and dramatically reduce the number of control units needed. It also uses a zonal architecture, providing VW with added flexibility.

Read: Rivian And VW Are Teaming Up To Reinvent The New Electric Golf Mk9

The first VW model to use the new architecture will be the electric ID.1, and the Mk9 Golf will follow, potentially dubbed the ID. Golf. According to VW technical chief Kai Grünitz, starting with the ID.1 “reduces the risk for the Golf,” because the brand’s base EV will have less functionality than the Golf, allowing VW to iron out any kinks. Over-the-air updates will serve as an important feature of the architecture.

“The benefit of the zonal architecture is that I can put one, two or three zones in a vehicle,” Grünitz told Autocar. “Vehicles in lower price segments will just need one zone, while a premium vehicle might need three or four, depending on functions. I can use a dedicated system-on-chip [SoC] family for each model. So for the ID 1, I can use an SoC with a lower price point and complexity, but if I take the same architecture over to the Golf, I can use a different SoC that costs more money but gives additional functions. But it’s still the same software.”

Underpinning the next-generation VW Golf will be the group’s flexible SSP platform with an 800-volt architecture. It will also use a new cell-to-pack battery design.

VW will build the new Golf at its factory in Wolfsburg, Germany, while moving production of the current Mk8 Golf away from its homeland and to a plant in Puebla, Mexico.

Rivian originally built its Electric Delivery van exclusively for Amazon, having inked a partnership with the retail giant in 2019 to deliver more than 100,000 examples. However, after the four-year exclusivity deal expired, Rivian is now free to sell the EV to other companies, and one of its first new clients is Ben & Jerry’s. What you’re looking at, ladies and gentlemen, is a properly modern ice cream truck.

The electric van, now known simply as the Rivian Commercial Van, has been modified alongside Ben & Jerry’s and will premiere at South by Southwest in Austin, Texas, this week. There’s no word on how many of these ‘scoop trucks’ have been ordered, but we know that 2 examples will hit the road after SXSW, “bringing good eats and good vibes to the Rivian community across the country.” They will also be used at pop-up events throughout Vermont.

Read: $80k Will Get You A 315 HP Rivian Delivery Van

No photos of the interior have been published, but the exterior includes a colorful Ben & Jerry’s livery, as well as an extra air conditioning unit on the roof.

“Collaborating with the Ben & Jerry’s team to build the next generation of electric scoop trucks has been an incredible experience,” senior director of Prototype Development at Rivian, Brian Gase said. “We can’t wait for people to stop by for some ice cream and see it in action for the first time during SXSW!”

The vans are based on Rivian’s RCV 500 model which uses a 100kWh LFP battery pack for 161 miles (259 km) of range. Rivian also sells an RCV 700 version, which is 30 inches longer than the RCV 500 at a massive 278 inches.

“Working with Rivian, an industry leader that is committed to sustainability is an ice cream dream come true,” added Ben & Jerry’s US Integrated Marketing project lead, Sean Slattery. “Today, Rivian helped Ben & Jerry’s reduce our reliance on fossil fuels in a small way, while making things a little bit cooler… which, as an ice cream company, is extremely difficult to do.”

Rivian is making good on a promise it told Carscoops about several months ago. During a fireside chat in California, the company hinted that unlockable features were on the way. Now, we know that the first of those features, which is extra power, is coming in the 2025.06 update. Later this year, owners of the Large+ battery pack will also get the option to unlock extra range.

More Power for a Price

First and foremost, Rivian says these unlockable features will only be available to second-gen R1 owners. Right now, buyers of these newer EVs can add the Performance Pack to their Dual Motor trim for a cool $5,000. It includes a bump from 533 horsepower (397 kW) and 610 lb-ft (826 Nm) of torque to 665 horsepower (495 kW) and 829 lb-ft (1122 Nm) of torque. Furthermore, it adds two new drive modes, Sport and Soft Sand, to the mix.

Read: EV Crash Claims Jump 38%, And Repairs Are Pricier Than Ever

The automaker will soon make this addition the first available unlock with version 2025.06 of its software. It doesn’t say how much the upgrade will cost within the ecosystem, but it wouldn’t be shocking to see Rivian offer multiple options including a one-time fee, a subscription, or even a trial period of the software.

More Range on the Horizon

That’s likely the same situation buyers who chose the Large+ Battery Pack will face later this year. In a post to his personal X account, Wassym Bensaid said the extra range will be the next unlockable feature after the Performance Pack upgrade is live. Rivian’s Large+ battery pack is the same as its Max pack but software-limited for less range.

Per your feedback, Dual Performance upgrade for your Rivian will be available through OTA.

Coming soon with the 2025.06 update. And you can use Rivian Rewards, too! pic.twitter.com/f3C6xO9Bdp

— Wassym Bensaid (@WassymBensaid) February 28, 2025

Next on the roadmap! 😉

— Wassym Bensaid (@WassymBensaid) March 1, 2025

A Growing Trend in the Industry

Rivian isn’t the first automaker to experiment with paid software unlocks. Tesla and Mercedes have already rolled out similar models, allowing customers to pay for performance boosts or additional features that are technically already built into the car.

In theory, such unlocks allow automakers to streamline production. Building one vehicle with two settings can be cheaper than two separate types. At the same time, some believe that if the car is capable of something, it should be available to the end buyer no matter what.

Where do you stand on the debate? Let us know in the comments.