EV maker Rivian takes bold bet with higher-priced vehicles amid heating competition
And one some see as risky, since Rivian products will soon face more rivals at a time when market leader Tesla Inc is slashing prices to spur demand in the face of souring consumer sentiment, and traditional automakers are tightening competition with lower-priced electric vehicle (EV) models. Rivian calmed investor nerves this week by sticking to its 2023 production target and reporting better-than-expected quarterly revenue in a sharp contrast to peers Lucid Group, Fisker Inc and Nikola Corp.