Move over Tesla, here comes another company you can love or hate but cannot simply ignore. Having delivered less than 200 vehicles so far, Rivian Automotive (NASDAQ: RIVN) sports a market capitalization of roughly $100 billion. As has been widely covered in the media, the company's market cap exceeds that of General Motors or Ford Motor Company (NYSE: F). Let's take a closer look at the electric vehicle (EV) start-up to find if it is a buy right now.
Founded in 2009, Rivian entered the EV market with a five-passenger pickup truck, R1T, and started deliveries in September this year. Rivian has beaten every other company in launching an all-electric pick-up truck, and that's one reason behind investors' enthusiasm. As of Oct. 31, Rivian has delivered 156 R1Ts. The model's price starts at $67,500.
In December, Rivian plans to launch its next model, the R1S, a seven-passenger SUV. The R1S starts at $70,000. By the end of 2021, the company plans to deliver around 1,000 R1Ts and 15 R1Ss.
Source Fool.com