If Toyota Is Right, Is Rivian in Serious Trouble?
Automotive investors have been caught up in the whirlwind of electric vehicles (EV) and potentially self-driving vehicles for some time. To be fair, it looks to be a very likely future, at least at some point. That bodes well for pure EV players such as Rivian (NASDAQ: RIVN), which has made a name for its high-quality R1T and R1S vehicles.
But recently, the chairman of a major global automaker had something to say, and it could scare already-skittish EV investors. Here are the details.
To add some context to the remarks by Akio Toyoda, chairman and former CEO of Toyota Motor Corp., his company has been facing pressure for being left behind in the race toward electrification. Toyota, one of the world's largest automakers, has been slower to transition to EVs compared to major competitors that have multibillion-dollar plans for factories and lists of upcoming EV launches.
Source Fool.com
