The Biggest Reason Why Rivian Could Be a Dark Horse EV Stock in 2023
For investors, the automotive industry isn't for the faint of heart. Intense competition, historically brand-loyal consumers, and capital-intensive manufacturing are some of the reasons the list of failed and bankrupt automakers is extensive.
However, as the world begins to adopt electric vehicles (EVs), new automakers have a rare chance to carve out their niche, and there's one big reason Rivian Automotive (NASDAQ: RIVN) could be a dark horse EV stock in 2023.
Perhaps the most important reason Rivian could do well this year is an opportunity to insert itself as consumers settle into a brand. Typically, the automotive industry is extremely brand loyal, and it's difficult, but highly valuable, when automakers can make a "conquest" sale that takes a consumer from another brand.
Source Fool.com
