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Will Rivian Automotive Be Worth More Than Tesla by 2030?

TheMotleyFool

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Will Rivian Automotive Be Worth More Than Tesla by 2030?: https://g.foolcdn.com/editorial/images/699518/2022-rivian-r1t-19.jpg

Rivian Automotive (NASDAQ: RIVN) was frequently compared to Tesla (NASDAQ: TSLA) when it went public last November. The electric vehicle maker was backed by Amazon and Ford Motor Company, which seemed to give it much brighter prospects than many of its industry peers.

But today, Rivian's stock trades nearly 60% below its IPO price. The market's enthusiasm for Rivian waned as it struggled with production delays, supply chain disruptions, and widening losses. Rising interest rates exacerbated that pain.

Image source: Rivian.

Source Fool.com

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