This EV Stock Is Way Cheaper Than Tesla

(NASDAQ: TSLA) remains one of the most exciting electric-vehicle (EV) stocks on the market today. The company is rapidly investing in its robotaxi division, which could ultimately become a $5 trillion to $10 trillion opportunity.

However, Tesla isn't the only game in town. If you're betting on EVs, you'll want to consider a position in the company below. Its stock price is way cheaper than Tesla's right now.

Tesla's stock may be fairly valued, based on its exciting growth opportunities, but that doesn't mean its valuation is easy to stomach. Right now, shares trade at nearly 16x sales. Rivian Automotive (NASDAQ: RIVN), meanwhile, trades at just 3x sales. With a market cap of $18 billion, Rivian also has significantly more growth upside potential than Tesla, which trades at a $1.2 trillion valuation.

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Source Fool.com