Forget Rivian, Buy This Magnificent Electric Vehicle Stock Instead

With its monumental initial public offering (IPO) in November 2021, Rivian (NASDAQ: RIVN) arrived on the electric vehicle (EV) scene with a bang. As the largest IPO for an American company since Meta in 2014, Rivian raised a whopping $12 billion.

But since its public debut, things have been a little rough. In an industry that is growing more competitive by the year, Rivian has been confronted with challenge after challenge and continues to struggle to gain its footing. For this reason, and a handful of others we will explore, investors are better off owning EV companies with a track record of success, such as (NASDAQ: TSLA).