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Rivian Automotive, Inc. (NASDAQ:RIVN) is one of the 10 Best EV Stocks to Buy According to Hedge Funds.
The company lays off employees amid a $1 billion equity investment and while awaiting the launch of its R2 SUV.
In the second quarter of 2025, Rivian Automotive, Inc. (NASDAQ:RIVN) achieved notable progress in the development of the R2 vehicle and its autonomy platform. The improvement strengthens the company’s position for future growth. It also announced the completion of a new 1.1 million square foot facility in Illinois, to support the production of R2, signaling strong demand as well as the company’s commitment to scaling manufacturing capacity.
While preparing for the launch of its new R2 SUV, Rivian Automotive, Inc. (NASDAQ:RIVN) announced a layoff of a small number of workers, with the intention of lowering costs. While this may project a negative outlook, the company gains some positivity by acquiring the trust of a major player in the sector with a $1 billion equity investment from Volkswagen Group.
Rivian Automotive, Inc. (NASDAQ:RIVN) also benefits from the institutional interest of 38 hedge funds, which have invested in the company’s stock.
Based in California and founded in 2009, Rivian Automotive, Inc. (NASDAQ:RIVN) stands out for its focus on the premium electric adventure vehicle market. The developer and manufacturer of the R1T electric pickup and R1S electric SUV also has a significant partnership with Amazon for its electric delivery vans.
While we acknowledge the potential of RIVN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 13 Best Freight Stocks to Invest in Now and 11 Best Annual Dividend Stocks to Buy According to Hedge Funds
Disclosure. None.
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