Rivian Automotive, Inc. / DE (NASDAQ: RIVN)

Rivian Automotive, Inc., often referred to as Rivian, is an American company operating in the automotive industry. It is known for its development and production of category-defining electric vehicles (EVs) and accessories. Rivian's mission is to accelerate the global transition to zero-emission transportation and energy.

Rivian's main business activities revolve around the design, development, and manufacturing of EVs. The company's primary products include the R1 platform, which encompasses the R1T, a two-row, five-passenger pickup truck, and the R1S, a three-row, seven-passenger sport utility vehicle (SUV). Additionally, Rivian has announced plans to manufacture the R2 vehicle in 2026, which will be built on its mid-sized platform and targets the SUV market. The company also offers a comprehensive portfolio of vehicle accessories designed to enhance its brand's focus on adventure and active lifestyles.

In terms of commercial vehicles, Rivian has developed the Rivian Commercial Van (RCV), which underpins the Electric Delivery Van (EDV) variant. This variant was designed and engineered in collaboration with Amazon.com, Inc. and its affiliates. The EDV and RCV are long-range, electric commercial step-in vans intended for large-scale production and deployment in a centrally managed fleet. Amazon has ordered an initial volume of 100,000 EDVs globally, subject to modification.

Rivian's revenue is generated through the sales of its primary products, the R1T and R1S, as well as its commercial vehicles. The company's direct-to-customer model allows it to manage all sales, deliveries, service operations, and resales in-house, without reliance on a franchise dealership network. This model provides a unique competitive advantage, as it allows for a more streamlined customer experience and efficient operations.

Rivian's competitive advantages extend beyond its direct-to-customer model. The company boasts a strong talent and culture, technological innovation, product performance and quality, customer experience, brand differentiation, product design, pricing, and total cost of ownership (TCO). Rivian's competition includes traditional internal combustion engine (ICE) vehicles, as well as other EV manufacturers.

Rivian's supply chain is complex and involves procuring raw materials and product components from hundreds of suppliers across the globe. The company has faced and continues to face various manufacturing-related product component shortages. However, Rivian is proactively engaging with its supply chain partners to address these challenges and develop contingency plans for responding to supply chain disruptions.

Rivian's commitment to the environment is evident in its approach to regulatory incentives. The company has recognized revenue from sales of regulatory credits earned for model year 2022 and expects to continue to recognize revenue in 2024 from credits earned for both model year 2022 and 2023. Additionally, Rivian benefits from federal and state incentives in the United States, including the Qualified Plug-In Electric Drive Motor Vehicle Tax Credit program and the Alternative Fuel Infrastructure Tax Credit.

Rivian's intellectual property is a core asset of the company, and an important tool to drive value and differentiation in its products and services. The company protects, uses, and defends its intellectual property in support of its business objectives.

Rivian's commitment to Environment, Social, and Governance (ESG) is centered around its mission to keep the world adventurous forever. The company is focused on creating solutions and demonstrating ways of operating that not only help shift mindsets, but also help support a healthy competitive landscape to shift away from fossil fuels and curtail climate change.