ENGLISH BRIEFING
Summary
Rivian and Lucid are reporting Q3 earnings this week. While revenue is expected to grow and losses to narrow, both EV makers face significant challenges including tariffs, reduced federal incentives, and intense competition. They are expected to focus investor calls on future products and technologies to offset near-term headwinds.
Key Points
- Earnings Expectations: Rivian (Tuesday) and Lucid (Wednesday) are expected to report increased revenue and narrower adjusted losses compared to last year.
- Market Challenges: Both companies face industry-wide issues like increased costs from tariffs and a forecasted slowdown in EV sales growth, alongside the end of key federal consumer incentives.
- Profitability Pressure: Regulatory changes have hurt revenue from selling emissions credits. Rivian cut its 2024 credit sales forecast from $300M to $160M, impacting its profit guidance.
- Future Focus: With near-term challenges, both companies will emphasize future products (Rivian’s R2, Lucid’s Gravity SUV) and technologies (ADAS, software deals) to convince investors of long-term viability.
- Cash & Production: Rivian maintains it has sufficient cash for its R2 launch in H1 2025. Lucid aims to significantly increase Gravity production in the second half of the year.
中文简报
总结
Rivian和Lucid将于本周公布第三季度财报。尽管预计收入将增长，亏损将收窄，但这两家电动汽车制造商都面临着严峻的挑战，包括关税、联邦激励措施减少以及激烈的竞争。预计他们将把投资者电话会议的焦点放在未来的产品和技术上，以抵消近期的阻力。
关键点
- 盈利预期：预计Rivian（周二）和Lucid（周三）将报告收入同比增长，调整后亏损收窄。
- 市场挑战：两家公司都面临行业性问题，如关税导致的成本增加、电动汽车销售增长预期放缓，以及关键联邦消费者激励措施的结束。
- 盈利压力：监管变化损害了出售排放积分收入。Rivian将其2024年积分销售预测从3亿美元下调至1.6亿美元，影响了其利润指引。
- 未来焦点：面对近期挑战，两家公司将强调未来产品（Rivian的R2，Lucid的Gravity SUV）和技术（ADAS、软件交易），以说服投资者相信其长期生存能力。
- 现金与生产：Rivian维持其有足够现金在2025年上半年推出R2。Lucid目标在今年下半年大幅提高Gravity的产量。
Original Article Link: https://www.cnbc.com/2025/11/04/ev-rivian-lucid-q3-results.html