What’s Next As Lucid Overtakes Rivian Stock

An investor should also factor potential growth into their investment thesis. $Rivian Automotive(RIVN.US)$ currently has 71,000 reservations for the R1T and R1S models. Meanwhile, $Lucid Group(LCID.US)$ has 17,000 reservations for its Air sedan, representing a book value of $1.3 billion. Lucid has also confirmed its goal of producing 20,000 vehicles in 2022. Furthermore, CEO Peter Rawlinson is “confident in our ability” to achieve the goal.

Rivian has not yet released a 2022 production goal, although the EV maker stated that it expects its 2021 target of 1,200 vehicles produced to fall “a few hundred vehicles short.” Rivian is also working on a new $5 billion EV plant in Georgia. Construction for the plant will start this year, with a finalization date set for 2024. The new plant is expected to be able to produce 400,000 vehicles per year. However, building new plants isn’t cheap, and Rivian is expected to report $8 billion of capital expenditures through 2023.

Both companies are currently spending billions of dollars to power future growth. Investors will want to keep up to date with reservation reports and company updates as these two EV producers try to make a name for themselves.