“`html
Core Facts on Rivian Automotive and Tesla
Rivian Automotive (NASDAQ: RIVN) is set to begin production on three new electric vehicle models priced under $50,000 in 2024, directly challenging Tesla (NASDAQ: TSLA), which has two best-selling models, the Model 3 and Model Y, that account for over 90% of its sales.
Rivian’s market cap is currently under $20 billion, trading at a price-to-sales ratio of 3, significantly lower than Tesla’s roughly 16. The company is also investing in AI and autonomous driving, anticipating the unveiling of new features next month, with potential for Level 3 autonomy by 2026.
This competitive landscape showcases Rivian as a potentially better long-term bet due to its pricing strategy and forthcoming model lineup, contrasting with Tesla’s higher price points, which exceed $100,000 when options are added.
“`
