Why Shares of Rivian, Lucid, and Fisker Are Racing Higher Today
Showing signs of caution amid questions about the U.S. defaulting on its debt, the S 500 is marginally higher while the Dow Jones Industrial Average is moderately lower. Shares of electric vehicle (EV) maker Rivian Automotive (NASDAQ: RIVN) are accelerating higher to start the week. After the company announced news on Friday, investors are expressing their approval today. In addition, news from a legacy automaker regarding its EV plans is also contributing to the strong buying activity of Lucid Group (NASDAQ: LCID) and Fisker (NYSE: FSR).
As of 12:26 p.m. ET, Rivian's stock is up 5.3%, while shares of Lucid and Fisker are up 5.6% and 5.2%, respectively.
Demonstrating interest in providing superior customer service, Rivian announced on Friday that it expects to have 200 electric Rivian Service Vans (RSV) on the road by the end of 2023 as well as 100 R1Ts -- the company's electric pickup truck. The RSVs and R1Ts will provide various maintenance and repair services in addition to vehicle-to-vehicle charging and other mobile service needs. According to Grady Robbins, Rivian's Senior Program Manager for Mobile Service Operations, having the RSVs enables the company to "continue to lead with a mobile-first strategy, delivering high-quality and convenient service to [its] customers in a sustainable way."
Source Fool.com
