This Electric Vehicle (EV) Maker Is Bucking the Trend
It seems as if every company in the electric vehicle (EV) sector has been throttling back plans and expectations lately. But Rivian Automotive (NASDAQ: RIVN) has been the exception. That pattern continued after the company released its third-quarter update.
Rivian increased its vehicle output projection for 2023 for the second time this year. That comes after even EV leader lowered prices to spur demand and make up for lower-than-expected third-quarter vehicle deliveries.
The news from Rivian pushed its shares higher as it stands out among EV start-ups. That's because investors see a unique business model from Rivian and a path to eventual profitability. It currently offers its R1 platform SUV and pickup truck for everyday driving as well as off-roading. Alongside those models, the company builds electric commercial delivery vans for Amazon. The big news from its earnings report was related to that commercial product.
Source Fool.com
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