Rivian aims to become the next Tesla with major funding and new models

by MarketNewsData

From Nasdaq: 2024-07-27 04:56:00

1. Tesla (NASDAQ: TSLA) shares have increased by 15,700% since going public in 2010, outperforming the S&P 500 by a significant margin.

2. Rivian Automotive (NASDAQ: RIVN) has secured major funding from Amazon, Ford, and Volkswagen, positioning itself well to compete in the EV market.

3. Rivian aims to launch new models like the R2, R3, and R3X to drive sales growth and potentially turn a profit by the fourth quarter.

4. While Rivian faces challenges, tracking factors like access to capital and successful model launches will determine its potential as the next Tesla.

5. The Motley Fool recommends considering other stocks over Rivian for potential high returns, highlighting their historical success in stock picks.



Read more at Nasdaq: Will Rivian Become the Next Tesla?

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