Investors who hopped on the electric vehicle (EV) bandwagon early are looking for reasons to stick around, as demand and sales growth have slowed and costs remain high. In fact, shares of Rivian (NASDAQ: RIVN) have slid 56% lower year to date, and Fisker has all but shuttered its doors amid a dire cash crunch.

But Rivian could offer a solid opportunity for long-term investors who believe in the future of electric vehicles taking over the roads and are comfortable with risk. If you're willing to make that leap, here are three things you need to know about buying Rivian today.

The second quarter of 2024 will bring some much-needed updates and retooling of Rivian's only production factory. The good news: The changes to the R1 platform, new suppliers, and improved production efficiency will increase production rates by roughly 30%.

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Source Fool.com