How Rivian Can Not Only Survive but Thrive in 2024
A storm has been brewing around the electric vehicle (EV) industry. The storm is a mix of high interest rates that make consumers hesitant to purchase vehicles, charging infrastructure challenges, a saturated high-price market for EVs, and a lack of affordable options.
For Rivian (NASDAQ: RIVN) investors, the storm led to disappointing production guidance that would leave 2024 roughly flat compared to last year. However, that doesn't mean the company can't still thrive in 2024. Here's a look at some positive developments for the young EV maker.
When Rivian unveiled its R2 crossover, as well as the surprise R3 and R3X, it also announced it would accelerate the production timeline of the R2 by bringing initial production into its original Illinois factory. The original plan was to produce the R2 at the Georgia plant, which has now been slightly delayed.
Source Fool.com
