Rivian: Oversold As R2 Ramps Up - Promising Electric Van Tailwinds Ahead

Robust R2 demand, expanding EDV partnerships with Amazon/potentially Walmart, and improved manufacturing leverage support Rivian's narrowing gross margin losses. Strategic capital infusions from Volkswagen, Uber, and Department of Energy underpin their ability to finance the aggressive R&D/capex, sustaining growth amid ongoing cash burn. RIVN's valuation has reset near legacy peers, likely attributed to the divergence between double-digits sales growth and mixed cash flows/balance sheet metrics.