(NASDAQ: TSLA) was the electric vehicle (EV) manufacturer that did the unthinkable -- it broke the chokehold the big incumbents had on the automotive sector. After Tesla came a slew of electric vehicle upstarts that wanted to ride its coattails. One of those companies is Rivian (NASDAQ: RIVN).

The problem is that not every electric vehicle maker can be the next Tesla. Here are three things to consider if you're thinking about buying shares of Rivian today.

Tesla is the 800-pound gorilla in the U.S. electric vehicle market. But it's far from the only company operating in the space. There are upstarts like Rivian, but the legacy automakers are producing EVs, too. That means that Rivian has to distinguish itself from a large number of competitors, some of which already have large and profitable businesses. The auto sector is tough enough for the big players -- it's extra tough for smaller companies with fewer resources.

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Source Fool.com