Where Will Rivian Stock Be in Three Years?
This is a loaded question, and the answer isn't an exact science. Rivian Automotive (NASDAQ: RIVN) held some serious traction in 2022 and 2023, but stalled out in 2024 -- it dropped from 167% revenue growth to 12%. So what happened? And what's Rivian to do?
As I see it, Rivian faces two major challenges over the next three years: Getting more affordable car models to market, and handling the loss of the tax credits that electric vehicle (EV) companies enjoyed.
Other automakers have been sounding the alarm on EV demand. Stellantis (NYSE: STLA), maker of the popular RAM pickup trucks, cancelled its REV pickup due to weakening North American demand. General Motors announced last week that it will be cutting back its EV production due to the loss of tax credits, and subsequent weaker demand.
Source Fool.com
