This Stock Is Crushing Both Lucid and Rivian in 1 Crucial Way
Many young EV makers are judged on revenue growth, but the next step is gross profitability. Rivian has taken a step forward while Nio has taken a leap. Here's why it matters.
Overview
As far as young U.S. electric vehicle (EV) makers go, Lucid Group (NASDAQ: LCID) and Rivian Automotive (NASDAQ: RIVN) have managed to separate themselves from the smaller niche players, or worse, the few that have already closed their doors. One could easily argue that Rivian has even separated itself from Lucid in a positive manner.
But there's another stock, Nio (NYSE: NIO), that often flies under the radar because it was born in China, and in one crucial way it has been crushing Lucid and Rivian recently.
Details
It's not an easy life for young EV automakers, which face costly technology such as batteries, largely unprofitable early-stage scaling, and a volatile EV industry that has been impacted by changes in demand due to untimely policy, reduced tax incentives, and even unexpected tariffs.
Source
Originally published at www.fool.com.