Betting on electric vehicle (EV) stocks can be a challenging endeavor. 's stock price has risen 13,400% since going public. Other EV automakers, meanwhile, have gone bankrupt, with investors losing everything.

There's one EV stock right now that could be the perfect blend of risk and reward. Its shares have lost 84% of their value since debuting in 2021. But if you want to add huge growth potential to your portfolio, this company could be the perfect choice.

There's a lot to be skeptical about when it comes to Rivian Automotive (NASDAQ: RIVN). The biggest challenge is a constant need for new capital. Vehicle manufacturing is notoriously capital intensive. It takes billions of dollars to scale manufacturing capacity, not to mention design, market, and sell whatever is produced. Right now, Rivian is losing $39,000 for every vehicle it makes. Over the past 12 months, it has posted a cumulative loss of $5.5 billion.

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Source Fool.com