Is Rivian a Millionaire Maker?
Rivian Automotive (NASDAQ: RIVN) is at an important crossroads. Down one path lies profitability, growth, and long-term success. Down the other lies obsolescence. Okay, maybe that's a bit too dramatic, but Rivian's big goal for 2024 is to turn a gross profit. That's not the same as generating positive earnings, but it is a vital step along the way. If it can't manage to take that first step, well, the long-term appeal here is limited. But if it can live up to that goal, the future could be very bright.
From a high-level view, Rivian doesn't do anything exciting. It just makes trucks. In the consumer space that means a pickup truck. In the business space, at least for now, it means delivery vans. The important nuance here is that it is making electric trucks. While not completely unique, since other automakers produce electric trucks, too, Rivian has an award-winning product that had been very popular with consumers. Oh, and it has actually achieved a material level of production at its factory, which is expected to make around 57,000 trucks in 2024.
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Source Fool.com
