Rivian Cuts EV Delivery Outlook, Sees Tariffs Hitting Demand (1)

Rivian Automotive Inc. said full-year deliveries will decline more sharply than it anticipated just a month ago, citing risks that President Donald Trump’s trade war will further dampen demand for pricey electric vehicles.

The company now expects to sell 40,000 to 46,000 battery-powered pickups, SUVs and delivery vans this year, it said Tuesday while reporting first-quarter results. That’s down from as many as 51,000 under its prior forecast, which it reaffirmed in early April. Still, the company expects to achieve a modest full-year gross profit.

Reducing its sales outlook shows how Trump’s trade policies and related economic worries risk ...