Rivian (NASDAQ: RIVN) was the first company to launch an electric pickup truck, but that space is quickly becoming more crowded. With the Ford F-150 Lightning and now the Tesla Cybertruck available, Rivian isn't the only kid on the block.

Still, it's an exciting investment because it's a young and growing company with a great product. But could it be the best EV stock for 2024? Let's find out.

Rivian's lineup currently consists of two vehicles: the R1T (T for truck) and the R1S (S for SUV). It also owns the contract to make Amazon's electric delivery vans. However, it plans on launching an R2 model in 2026 that is slated to be more economical. Rivian's vehicles aren't the cheapest EV options, so having a cheaper model that's more attractive to the masses will be key for expanding.

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Source Fool.com