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.

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Source Fool.com