*

Rivian's Q3 revenue boosted by pre-expiry EV tax incentive

rush

*

Adjusted net loss smaller than analyst expectations

*

Company lays off 4.5% of workforce due to rising costs

By Akash Sriram and Abhirup Roy

Nov 4 (Reuters) - Rivian Automotive ( RIVN ) surpassed

Wall Street expectations for third-quarter revenue on Tuesday,

fueled by strong deliveries as U.S. consumers rushed to grab a

federal tax incentive on electric vehicle purchases before its

expiry.

The company said last month it delivered 13,201 vehicles in

the third quarter, up 32% from the year earlier, but lowered

forecast for the year marginally to between 41,500 and 43,500

units, as it braced for demand uncertainty from the lapse of the

$7,500 federal tax credit and cost pressures from U.S. tariffs.

Analysts also anticipate a drop off in fourth-quarter

deliveries, as the loss of the incentive increased prices for

EVs.

"October is going to be a bit of a funky month, because

you had so much pull forward. But in the fullness of time, we

think it (demand) looks the same way we thought it looked

before," CEO RJ Scaringe told Reuters.

Rivian's revenue for the third quarter stood at $1.56

billion, compared with analysts' average estimate of $1.5

billion, according to data compiled by LSEG.

The company posted an adjusted net loss of 65 cents per

share, smaller than the estimate of 72 cents per share.

Rivian said it remains on track to start production of its

more affordable R2 SUV in the first half of next year to expand

beyond the premium truck segment.

Its R&D expenses in the third quarter were $453 million,

while analysts estimated $406.6 million.

Last month, Rivian laid off about 4.5% of its workforce,

more than 600 employees, affecting its service, sales and

marketing divisions, as it grappled with softening demand and

rising costs from U.S. tariffs on imported auto parts.

In recent quarters, the company's software and services

segment has been pivotal in driving overall profitability,

thanks to its significantly higher margins.