RIVIAN
Tesla's Worst Nightmare? and Apple's Savior?
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We have been short the entire EV sector since 2020 - except RIVN 0.00%↑
Rivian has adopted a unique strategy, focusing on the long game in the last-mile delivery space, which makes it a compelling investment opportunity to be a juggernaut in the EV delivery space. However, the company is still losing $38,000/vehicle delivered in Q1 2024.
Prior to the IPO, RIVN 0.00%↑ was facing competition from TSLA 0.00%↑, NIO 0.00%↑, and RIDE (bankrupt), and F 0.00%↑, and GM 0.00%↑.
As of today, only TSLA 0.00%↑ remains a viable competitor for RIVN 5.09%↑ , and on the commercial side, RIVN 5.09%↑ doesn’t have a credible competitor yet. Also, speculations are running rampant that Apple (AAPL) was looking to partner with Rivian. The management addressed the speculation during its latest earnings call, saying:
“We don't comment on mark rumors or speculation. But as you alluded to, we have, we have a history of partnership and of course, Amazon who is our largest shareholder today and a very close partner across a variety of avenues has been really a foundational element of the business. They were quarter launching the commercial arm of the business and today represent the vast, vast majority of our commercial vehicle sales.”