While Libian’s cost-cutting measures are much closer to profitability, the company warns that 2025 could still be a challenging year.
company announcement On Thursday, Thursday, we shared our plans to provide 46,000-51,000 EVs for 2025 for the fourth quarter and full year financial results for 2024, along with that. Libian warned that it could affect “changes in government policies and regulations and a challenging demand environment.” As a result, according to a shareholder’s letter, the EV maker was released along with the results.
Libian didn’t specify what those changes were, but Trump said he tended to find a way out on the campaign trail. Kill $7,500 Federal EV Tax Credit. Vivek Ramaswamy, a friend of the Trump administration It’s called For a clawback of $6.6 billion in loans from the Department of Energy to build a factory in Georgia. The loan was finalised three days before Trump took office.
“We are really looking forward to working with the new administration and the Department of Energy on loan, and we share the president’s desire to bring work back to the US,” said Libian’s Chief Financial Officer. One Claire McDonough said during a conference call Thursday. The company notes that it plans to create 7,500 manufacturing industries at its planned Georgia plant. She later said she called on Libian to be as bad as “hundreds of millions” dollars associated with tariffs, losses in EV credits and other policy changes.
“We really believe in it and are very aligned with the administration on this. The US needs to remain a world leader in this regard, and we need to invest in electronics, software, autonomy and AI. These are really important CEO RJ Scaringe, CEO RJ Scaringe, CEO RJ Scaringe, CEO RJ Scaringe, CEO RJ Scaringe, CEO RJ Scaringe, CEO RJ Scaringe,
Libian’s cost reduction tears
Libian spent much of 2024 on tears of cost savings. We lifted 10% of our labor force in February, and in June we launched a simplified, inexpensive version of our flagship EVs (R1T pickups and R1S SUVs). The company has decided to change 600 copies of these vehicles to reduce manufacturing costs and revamp its electric architecture and software user interface.
These changes brought Libian Notch to a positive gross profit of $170 million in the final quarter of 2024, but that $60 million came from software and services.
Rivian reported revenue of $1.7 billion in the fourth quarter, up 32% from the same period in 2023. The majority of fourth quarter revenue (approximately $1.5 billion) came from 14,183 vehicles and the sale of Zero in $299 million. – Regulatory credit to automakers. Over the year, Libian reported revenue of $325 million from the sale of regulated units.
Revenue from software plays an increasingly important role. Libian generated $214 million from software and services in the fourth quarter, twice the amount since the same year. Rivian reported revenue of $484 million in 2024 from software and services.
Libian may be involved in the business of building and selling EVs, but its future will be locked primarily into software through a lucrative joint venture with the Volkswagen Group.
According to Rivian, revenue from the software was driven primarily by billing and subscription fees, repair and maintenance services, and new vehicle electrical architecture and software development services offered by the joint venture.
General AI will come to Libian
The company has turned its eye on generation AI as one tool to streamline customer service and reduce costs. The idea is to use AI to automate the process and “significantly reduce the management overhead for all non-repair tasks.”
What you actually see is an AI assistant or chatbot integrated into the Rivian app. The company launched its beta version this December with the Rivian mobile app for R1 customers.
The AI Assistant was built using a combination of an in-house AI agent infrastructure and a leading third-party language model. A spokesman for Libian added that the company has set up guardrails to limit conversations to Libian Services and guide-related questions. .
The AI Assistant is designed to answer questions about service needs and general vehicle questions. A company spokesperson said it can do basic troubleshooting, gather the information needed for the service and also answer common questions about the vehicle.
This story has been updated with information from Libian’s quarterly revenue calls.
