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A Bull Market in Electric Vehicles Is Coming: 3 Smart Reasons to Buy Rivian Stock Right Now

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A Bull Market in Electric Vehicles Is Coming: 3 Smart Reasons to Buy Rivian Stock Right Now: https://g.foolcdn.com/editorial/images/748070/electric-vehicles-gettyimages-1143388723.jpg

Rivian Automotive (NASDAQ: RIVN) first captured investors' attention back in 2019 when it struck a blockbuster deal with Amazon. Rivian agreed to supply the e-commerce titan with a whopping 100,000 electric delivery vans. It was the largest-ever order of battery-powered delivery vehicles at the time.

Amazon also made a large investment in Rivian. The online retail giant owns roughly 17% of the EV upstart's stock, a stake that's currently worth more than $3.8 billion. Amazon no doubt saw the promise of Rivian's technology, as well as its potential to earn a sizable share of a global EV market that's set to top $900 billion by 2028, according to Statista.

Image source: Statista.

Source Fool.com

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