Rivian Automotive (NASDAQ: RIVN) and (NYSE: NIO) are among the most closely followed electric vehicle (EV) stocks. While Nio is a key player in the world's largest EV market, China, Rivian stole the spotlight when it beat legacy automakers and became the first company to launch an all-electric pickup truck, the R1T.

The markets, however, haven't been kind to Rivian and Nio. Both EV stocks have fallen by double-digit percentages over the past year as multiple challenges – both external and internal -- hit the EV makers.

However, Rivian and Nio are both showing signs of a turnaround, and it could only be a matter of time before their stock prices recover if the companies can execute their plans. Which among the two beaten-down EV stocks, though, is a better buy now? Here's the bull case each for Rivian and Nio to help you decide.

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Source Fool.com