Tesla’s EV rival Rivian warns Trump’s trade war means it will sell fewer of its American-made cars than expected

• Rivian warned it will only deliver between 40,000 to 46,000 vehicles in 2025, after delivering 51,600 last year, revising its earlier guidance. Capex spending will also be $200 million more than anticipated. But a second straight quarter of gross profit helped by the sale of regulatory CO2 credits unlocks a crucial $1 billion investment by German partner Volkswagen.

U.S. automaker Rivian warned on Tuesday deliveries of its electric vehicles would decline by at least a tenth this year...