From Nasdaq:

Rivian Automotive (NASDAQ: RIVN) raised nearly $12 billion through its initial public offering (IPO) in 2021, making it the most valuable American IPO since Meta in 2012. However, the company has struggled to overcome challenges associated with mass-producing electric vehicles (EVs) and has yet to turn a profit.

Rivian is a risky bet for investors due to its uncertain financial future, making it less attractive compared to other EV market options like Tesla (NASDAQ: TSLA). Tesla is a leader in mass-producing cost-effective EVs and has a strong financial standing in the industry, backed by robust financial resources and continuous research and development efforts.

Another noteworthy player in the EV market is BYD (OTC: BYDDY), which has significantly increased its production of EVs and reported impressive year-to-date profits. In comparison, BYD’s gross profit margins have even surpassed Tesla’s. With a focus on entering new markets, BYD’s expansion beyond China makes it a strong contender in the EV market.

Veterans like Tesla and BYD are more favorable investment options due to their years of experience and strong positions in the EV market, making them better suited for investors looking to capitalize on the industry’s growth. As Rivian continues to navigate challenges, Tesla and BYD have proven themselves as top choices for market exposure and long-term value.

While Rivian remains a popular name in the EV market, investors might want to explore other stock picks. The Motley Fool Stock Advisor analyst team has identified the 10 best stocks for investors to buy now, and Rivian Automotive wasn’t one of them. The Stock Advisor service has a successful track record, tripling the return of the S&P 500 since 2002.



Read more: Forget Rivian: Buy These Magnificent EV Stocks Instead