It feels as though the U.S. market has been on the cusp of electric vehicles (EVs) going mainstream for a few years. Arguably, the biggest obstacle for mass adoption of EVs has been the high price tags. However, Ford Motor Company (NYSE: F) recently slashed prices of its Mustang Mach-E and the results were intriguing.

Not only were they intriguing, but it also makes Rivian Automotive's (NASDAQ: RIVN) move to accelerate the production schedule of its R2 vehicles even more imperative. Let's see what steps Rivian is taking and what it could mean for investors.

Rewind back to January, when Mustang Mach-E sales fell by more than half, as the crossover lost eligibility for $3,750 of a federal tax credit. It was a blow to Ford's near-term EV ambitions, but more importantly it highlighted just how sensitive consumers are to pricing and incentives for EVs.

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Source Fool.com