Rivian, which specializes in off-road vehicles, introduced the R2 that the market was waiting for and surprised with the smaller and cheaper R3. Rivian lost $5.4 billion in 2023, and in the last quarter it actually lost $43,000 on each vehicle among the 50,000 it produced.
The value of the company, which at its peak reached 130 billion dollars, deteriorated in two and a half years by 90%. Rivian has a specialization in the sought-after and almost non-competitive field of road vehicles.