EV maker Rivian Automotive Inc (NASDAQ:RIVN) has unenviably gained recognition for its ability to burn cash. Nevertheless, the company is gradually reducing losses and charting a path toward profitability.

The First Deliveries: In late 2021, Rivian embarked on its journey of delivering its first vehicles. Throughout the entire year, 920 vehicles were delivered, accompanied by a substantial loss of $2.46 billion. This translated to an astonishing loss of $2.68 million per vehicle delivered.

However, in the second quarter of this year, the company reached a milestone by delivering 12,640 vehicles while incurring a total loss of $1.2 billion. This marked a significant reduction in the loss per vehicle, plummeting to $90,000 — a nearly 97% drop from year-end 2021.

Notably, the $90,000 loss per vehicle is still higher than the starting price of either of the two vehicles in Rivian’s current product lineup. The R1T begins at $73,000, while the more premium R1S SUV starts at $78,000.

Rivian On Path To Profit Despite Musk's Doubts? Analyst Tells Why EV Startup Can Achieve Goal By End Of Next Year

Facing Bankruptcy or Positive Cash Flow: Tesla Inc (NASDAQ:TSLA) CEO Elon Musk warned in June 2022 that both Rivian and Lucid Group Inc (NASDAQ:LCIDmight face bankruptcy due to their substantial spending. However, BNP Paribas Exane’s senior automotive analyst, James Picariello, holds a different perspective.

Picariello told Benzinga, “While Rivian's loss per vehicle remains in the tens of thousands of dollars, over the next 12 months, it will implement LFP batteries, its internally developed Enduro ...

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