# Rivian News for May 20, 2025
Here are the latest developments at Rivian:
## Financial Performance
Rivian has reported its second consecutive profitable quarter to start 2025, marking a significant milestone for the electric vehicle manufacturer[3]. This follows their first-ever quarterly gross profit announced earlier this year[3]. However, company leaders have expressed concern about “significant uncertainty” related to President Trump’s tariffs, which are expected to increase production costs by several thousand dollars per vehicle[3].
## Current Promotions
Rivian is currently running a special “Electric Refresh” promotion until June 30, 2025, offering $3,000 in discounts for customers who trade in a battery electric vehicle as part of a new Rivian lease[4]. This can be combined with a $7,500 EV Lease Credit for a total potential discount of $10,500 on new Rivian vehicles leased through R1 Shop[4].
## Recent Corporate Developments
– Rivian has announced plans to build a new supplier park adjacent to its manufacturing plant in Normal, Illinois, which will receive $16 million in state incentives plus local tax breaks[3].
– The project is expected to strengthen Rivian’s supply chain and create “hundreds of new jobs” once suppliers move in[3].
– Earlier this year, Rivian opened sales of its Commercial Van to fleets of all sizes across the United States (announced February 10, 2025)[1].
– The company is also developing a new R2 electric platform, with Infineon set to supply power systems for it according to recent reports[2].
## Leadership News
Rivian founder and CEO RJ Scaringe recently addressed graduating students at his alma mater, encouraging them to “stay idealistic and curious” and to “tune out the noise”[3]. Additionally, Julie Hoeniges, Rivian’s director of trade compliance, has been appointed to the board of trustees at Illinois State University by Governor JB Pritzker[3].