Rivian Automotive (NASDAQ: RIVN) and Lucid Group (NASDAQ: LCID) were two of the most hyped stocks to debut in the U.S. stock markets in 2021. While Lucid created quite a buzz with its luxury electric cars that were touted to give a run for its money, Rivian beat Tesla and legacy automakers and became the first electric vehicle (EV) company to sell an all-electric pickup truck, called the R1T.

Shares of Lucid and Rivian, however, have crashed since, as neither EV maker has been able to meet investors' expectations so far. Both companies are now trying hard to turn things around, and are focused on ramping up production and sales. This could be a great time to buy these beaten-down EV stocks, but which one is a better buy? The investing thesis for each stock below should help you decide. 

Neha Chamaria (Rivian Automotive): Rivian hugely disappointed investors in 2022 when it produced fewer than 25,000 EVs against a capacity of 50,000 units. While the company blamed supply challenges for the shortfall, investors dumped the stock as Rivian's losses piled up and cash dwindled.

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Source Fool.com