Following a blockbuster IPO in November, Rivian (NASDAQ: RIVN) has received considerable attention as we close out 2021. The Amazon-backed electric vehicle (EV) maker just seems to be going from strength to strength – despite only delivering 156 vehicles in October.
With its first earnings report only days away, we take a look at just how it’s disrupting the EV world.
Disrupting a global industry: 101
Rivian’s initial plan to disrupt seems relatively simple. Target the pickup truck and SUV market, do it better than anyone else, and do it before anyone else. The company’s flagship vehicle, the R1T, is the first electric pickup to market, beating Tesla’s infamous Cybertruck and Ford’s F-150 Lightning.
Becoming a first-mover: check!
Doing it better than anyone else might be a more difficult proposition. However, over the weekend the R1T was named the 2022 MotorTrend Truck of the Year. Rivian’s first offering was hailed as “remarkable,” in a huge win for the company.
It’s hard to imagine any better news emerging prior to its debut earnings report Thursday, however, reports have claimed that Rivian will also be announcing a new vehicle assembly and battery manufacturing plant in Georgia during its earnings call.
The company has remained tight-lipped about the report, but insiders believe the announcement is imminent, in a move that could lead to an investing frenzy for the firm.
All in all, Rivian looks to be making good on the promise shown by its landmark IPO. Improved production, a path towards profitability, and an update on plans to fulfill a very lucrative order from Amazon will be high on investors’ checklists for the Thursday call. But, early signs show that Rivian is here to stay, and other EV companies might just have to up their game.
Financial Writer at MyWallSt
Pádraig’s favorite stock is Nike. Growing up as a sports fanatic, seeing Nike collaborate with athletes like Jordan, Lebron, and Ronaldo inspired him and cemented the brand in his mind. Now, despite having failed miserably in his attempts to earn a fabled Nike sponsorship, he still believes in the innovation and creativity behind Nike and is convinced they will only grow stronger as the world's leading sports brand.