Forget Tesla: This Electric Vehicle (EV) Company Proved Its Stock Is a Better Buy Now

There's no question (NASDAQ: TSLA) has been a great investment over the past five years as it built its leading electric vehicle (EV) business. The stock still has the potential to be a great investment from here over the long term.

But there's another EV name that could follow a similar trajectory in coming years as Tesla has over the last half-decade. For investors looking for faster growth, Rivian (NASDAQ: RIVN) may be the right EV name to look at right now.

One only has to look at Tesla's growth history to see some similarities -- and interesting differences -- to Rivian's current business. Prior to Tesla launching its higher-volume Model 3 offering, it delivered about 75,000 Model X and Model S vehicles in 2016. Investors valued Tesla with a market cap of around $30 billion at the end of 2016. Tesla then increased its Model X and S sales by 33% year over year in 2017 to more than 100,000 units.

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Source Fool.com