Tesla is far larger than Rivian: $94.8B of revenue in 2025 against Rivian’s $5.4B, and 1.64 million vehicles delivered against 42,247. Tesla earned $4.4B of operating income; Rivian lost $3.6B, though it reached a positive gross profit ($0.1B) for the first time.
Sources: Tesla Form 10-K for 2025 and Rivian Form 10-K for 2025. Analysis by The Business Engineer.
How we source: figures on this page come from the company’s own filings (SEC 10-K, 10-Q and earnings releases, or its annual report), with the period stated next to each number. Last refreshed October 2026. Our methodology.
Rivian vs Tesla: the key numbers
| Metric, 2025 | Tesla | Rivian |
|---|---|---|
| Revenue | $94.8B | $5.4B |
| Gross profit | $17.1B | $0.1B |
| Operating income | $4.4B | −$3.6B |
| Net income | $3.8B | −$3.6B |
| Deliveries | 1,636,129 | 42,247 |
Source: Tesla 2025 10-K; Rivian 2025 10-K.
What drives the difference
Scale. Tesla spreads its costs over 39× as many vehicles, which is why its gross margin was 18.0% while Rivian’s gross profit was only just positive (Rivian 2025 10-K).
Beyond cars. Tesla’s energy business sold $12.8B in 2025 (Tesla 2025 10-K); Rivian is a vehicle maker only.
What to watch
- Q3 2026: Tesla produced 464,391 and delivered 486,532 vehicles (Q3 2026 production and deliveries release).
- Energy: storage revenue was $12.8B in 2025 (Tesla 2025 10-K).
- Margins: Tesla’s 2025 gross margin was 18.0%.
- Rivian: deliveries fell from 51,579 in 2024 to 42,247 in 2025 (Rivian 2025 10-K).
Keep exploring
- Rivian vs Tesla production
- Tesla production vs deliveries
- Tesla revenue
- Tesla market value vs revenue
Earlier analysis and background
Earlier analysis and background (pre-2026 figures)
The text below is the earlier version of this page. Its figures refer to earlier periods and some were corrected above; the current, sourced figures are in the sections above.
Rivian and Tesla have different business models in the electric vehicle industry. Rivian focuses on all-electric adventure vehicles, targeting outdoor enthusiasts and emphasizing sustainable practices. Tesla, on the other hand, offers a range of electric vehicles targeting a broader consumer base. Additionally, Tesla has a strong emphasis on vertically integrated operations, including manufacturing, charging infrastructure, and energy storage solutions.
Elements · Rivian · Tesla · Similarities · Differences · Competitive Advantage
Customer Segments
Rivian: Individual customers, businesses
Tesla: Individual customers, businesses
Similarities: Both target individual customers and businesses in the automotive sector, offering electric vehicles.
Differences: Rivian is known for its focus on off-road electric vehicles, while Tesla offers a wider range of electric vehicles, including sports cars, sedans, and SUVs.
Competitive Advantage: Product Differentiation (Tesla).
Value Proposition
Rivian: Off-road electric vehicles, sustainability
Tesla: Electric vehicles, range, charging network
Similarities: Both provide sustainable electric vehicles as part of their value proposition. Rivian focuses on producing off-road electric vehicles, while Tesla emphasizes range, advanced technology, and a global charging network.
Differences: Rivian aims at a premium and sustainable off-road experience. Tesla differentiates through advanced technology, range, and an extensive charging network.
Competitive Advantage: Extensive Charging Network (Tesla).
Channels
Rivian: Websites, retail, partnerships
Tesla: Websites, retail, Supercharger network
Similarities: Both use websites, retail, and partnerships to reach customers and distribute their vehicles.
Differences: Rivian has a limited number of retail locations and is known for direct-to-consumer sales. Tesla has a dedicated Supercharger network for fast charging.
Competitive Advantage: Accessibility to Charging Network (Tesla).
Customer Relationships
Rivian: Websites, customer support
Tesla: Websites, customer support
Similarities: Both manage customer relationships through their websites and provide customer support.
Differences: Rivian and Tesla provide customer support through websites and dedicated channels.
Competitive Advantage: Similar Customer Support Methods (Both).
Key Activities
Rivian: Production, R&D, vehicle development
Tesla: Production, R&D, vehicle development
Similarities: Both engage in the production of electric vehicles, research and development, and design of their vehicles.
Differences: Key activities for Rivian include off-road vehicle production and innovation in this sector. Tesla is known for large-scale production of various types of electric vehicles.
Competitive Advantage: Production Specialization (Tesla).
Key Resources
Rivian: Manufacturing facilities, technology
Tesla: Manufacturing facilities, technology
Similarities: Both rely on key resources such as manufacturing facilities and advanced technologies to produce high-quality electric vehicles.
Differences: Rivian is distinguished for innovation in off-road vehicles and connectivity technology. Tesla is known for advanced technologies like Autopilot and battery technology.
Competitive Advantage: Technological Innovation (Tesla).
Key Partnerships
Rivian: Retailers, suppliers, investors
Tesla: Retailers, suppliers, investors
Similarities: Both collaborate with retailers, suppliers, and investors to support their production and distribution.
Differences: Rivian has partnered with Amazon for vehicle supply for delivery. Tesla has significant investors and has entered agreements with various companies for component supply.
Competitive Advantage: Supply Agreement with Major Companies (Rivian).
Revenue Streams
Rivian: Vehicle sales, charging services
Tesla: Vehicle sales, charging services
Similarities: Both generate revenue through vehicle sales and charging services.
Differences: Rivian focuses on off-road vehicle production and offers charging services. Tesla earns from the sale of a wide range of vehicles and provides charging services through its Supercharger network.
Competitive Advantage: Supercharger Network (Tesla).
Cost Structure
Rivian: Production, R&D, operations
Tesla: Production, R&D, operations
Similarities: Both face costs related to the production of electric vehicles, research and development, and business operations.
Differences: Rivian focuses on off-road vehicle production and related activities. Tesla engages in large-scale production of various types of electric vehicles.
Competitive Advantage: Production Specialization (Tesla).
Related Visual Stories
Rivian generated $4.43 billion in revenue in 2023, compared to $1.66 billion in 2022.
Rivian had 16,790 employees in 2023, compared to 14,122 employees in 2022, and 10,422 employees in 2021.
Rivian Production vs. Deliveries
Ford generated $158 billion in revenue in 2022, compared to over $136 billion in 2021, and over $127 billion in 2020.
Ford posted a net loss of nearly $2 billion in 2022, compared to a net profit of almost $18 billion in 2021, and a net loss of over $1 billion in 2020.
Compared to retail, Ford sold most of its cars via wholesale in 2022.
Tesla in charts
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