Cash Flow ChallengesLower unit sales drive free cash flow worse at negative $2.8 billion, including lower production and after capital expenditure.
Demand OutlookThere is a downbeat demand outlook for the year, leaving analysts waiting for updates on R2 progress and hoping for third-party opportunities.
Execution RisksRivian needs near-perfect execution through 2030 to reach scale, breakeven, and positive FCF in a sector known for surprises.