Excellent News for Long-Term Rivian Investors
Investors might not fully appreciate what Rivian (NASDAQ: RIVN) has already accomplished so far in its young history. Establishing an automaker from the ground up amid a complete industry transition from internal combustion engines to electric vehicles (EV) has been a tall task. Consider that 99 automakers starting with the letter "A" alone have gone bankrupt in past decades.
The great news for long-term Rivian investors is that the company has a real chance to succeed, and the second quarter is showing just how much progress the company has made with its operations and cost reductions. Let's dig in!
There have been quite a few technical improvements in company operations. One of the most overlooked improvements made over the summer came when Rivian updated its R1 vehicles to the second generation. While adding premium trims and new paint options could help spur demand, the big victory was efficiency gains and cost reductions.
Source Fool.com
