RIVN Stock Slips 4% Ahead Of Q2 Report — EV Maker Files Lawsuit Seeking Tariff Refunds

• Rivian’s chief financial officer said earlier this year the company expected a tariff refund in the tens of millions of dollars.
• A successful refund would provide a modest but useful cash infusion for Rivian as it scales production of its mass-market R2 SUV.
• Earlier this month, Rivian raised about $1.3 billion by selling shares.

Shares of EV maker Rivian Automotive slipped 4% on Friday, extending recent volatility, after the electric-vehicle maker sued the U.S. government for a full refund of tariffs paid under President Donald Trump’s trade policies.

The complaint, lodged on Thursday in the U.S. Court of International Trade, names the United States, Customs and Border Protection, and CBP Commissioner Rodney Scott as defendants. Rivian says it wants the court to declare the duties illegal and order repayment with interest.

Trump Tariffs

Beginning in early 2025, the Trump administration imposed broad new import taxes on goods from nearly every country. Rivian, which imports vehicle parts and components, paid the extra duties on its shipments.

Courts at every level found the measures exceeded the president’s authority under the law used to justify them. The Supreme Court affirmed that decision in February 2026. Yet Rivian’s lawyers argue that the ruling alone does not guarantee companies will automatically receive their money back.

“Importers that have paid… are not guaranteed a refund of amounts previously paid,” the filing stated.

Other major companies that have sued the U.S. government for refunds of the struck-down Trump-era tariffs include Costco, FedEx, Toyota, Revlon, Goodyear, Alcoa, and Nintendo.

Potential Boost For Growing EV Maker

Rivian’s chief financial officer said earlier this year the company expected a refund in the tens of millions of dollars. Company executives previously estimated the tariffs added hundreds to thousands of dollars to the cost of each vehicle before mitigation efforts.

A successful refund would provide a modest but useful cash infusion for Rivian as it scales production of its mass-market R2 SUV, and delivers 65,000-70,000 vehicles by year-end. Earlier this month, Rivian raised about $1.3 billion by selling shares, which sent its stock down 18% on the announcement. The company has also delayed broader profitability targets until around 2028.

How Did RIVN Retail Traders React?

On Stocktwits, retail sentiment around RIVN stock stayed within the ‘bearish’ territory over the past 24 hours, while message volume remained at ‘low’ levels.

A Stocktwits user expressed anticipation for the company’s upcoming second-quarter earnings, slated for July 30.

Another dismissed the chances for a good earnings report and highlighted the company’s recent capital raise.

RIVN stock has fallen 20% year-to-date. 

Read More: ZVRA Stock Sinks 23% On EU Setback — Analyst Says Risk Is ‘A Headwind, But Not Insurmountable’

For updates and corrections, email newsroom[at]stocktwits[dot]com.