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Is Rivian can be the Next Tesla?

 
  •  Michael.Green
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    Michael.Green  Michael.Green
     
      
     
     
     

    Chief Market Analyst with over 15 years experience with candid commentary and focuses on daily market analysis and financial research writing

     
 
 
 

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Rivian Automotive burst onto the scene in 2021 when it went public amid a surge in electric vehicle (EV) interest. The company, which makes an all-electric pickup truck and SUV, has earned a spot among some of the most innovative electric vehicle makers -- but unfortunately, its share price hasn't kept pace. Rivian's stock has tumbled 87% since its IPO. Under the weight of an increasingly competitive EV market and rising material costs, it's worth asking the question:

 

Is Rivian can be the next Tesla?

 

Can the company, just like Tesla, solved its problems and enter into a period of growth and innovation?

 

Here are a few reasons why Rivian is appealing: Rivian is clearly increasing vehicle production, deliveries, and revenue. Here are what the company reported in its Q4 2022 Shareholder Letter:

 

Our progress during 2022 was considerable as we produced 24,337 vehicles across our Two vehicle platforms and increased production 36% in the fourth quarter as compared to The third quarter. Our impact continues to grow as demonstrated by the total miles driven By all Rivian vehicles exceeding 160 million and over 10 million packages delivered from Rivian produced Amazon vehicles.

 

We achieved several major milestones in 2022, despite the significant supply chain Volatility across the industry:
• Ramped the production of all four of our vehicles, producing 24,337 vehicles
• Scaled our delivery and go-to-market operations, delivering 20,332 vehicles
To customers throughout the United States and Canada

 

Rivian's vehicle production soared 268% to 9,395 vehicles in the fourth quarter, and it also delivered an impressive 7,946 vehicles -- a more than 5X increase from the year-ago quarter.

 
Rivian Key Metrics
 

The strong quarterly vehicle production prompted Rivian's management to reiterate its confidence in meeting its goal of 50,000 in annual vehicle production in 2023. That's an important figure not just for Rivian, but also because it sets the company apart from many smaller EV start-ups, which don't even come close to Rivian's quarterly production output.

 

Rivian's sales are also climbing higher. Revenue jumped by more than 10 times in Q4 (first-quarter sales won't be released until next month) to $663 million. And Rivian has no shortage of orders for its vehicles either. Amazon has an order of 100,000 vehicles that Rivian has already begun delivering, and the company has a customer preorder backlog "that extends into 2024."

 
Steps for Rivian Financial Stability and Growth
 

It took Tesla, many years to make a profit, but Rivian can there a lot faster. The company has an opportunity to become a key player in the EV market.

 
 

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    Disclaimer: The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.

    Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").

    This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.