<p><strong>Rivian Automotive</strong>(RIVN -3.48%) 的股价已从其高点下跌了 90%。在 2025 年，它的股价下跌了约 30%。考虑到这两个数字，很难相信对这家电动车（EV）公司有任何积极的看法，但实际上是有的。虽然 Rivian 显然是一只适合更激进投资者的股票，但以下是一些投资者可能想要毫不犹豫地购买它的三个理由。</p>
<h2>1. Rivian 的情绪非常消极</h2>
<p>显然，考虑到股价的下跌，投资者对 Rivian 的看法与之前大相径庭。然而，这更多是投资者像羊群一样的行为，而不是 Rivian 当前业务的反映。实际上，当 Rivian 上市时，投资者对与电动车相关的一切都充满热情，股价被推高到不切实际的高度。现在，投资者对电动车股票避而远之，导致 Rivian 的巨大跌落。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTQ3NjQvMjRfMDZfMjYtYS1saW5lLW9mLXJpdmlhbi10cnVja3MtaW4tYS1wYXJraW5nLWxvdC1fbWYtZGxvYWQtaW1hZ2Utc291cmNlLXJpdmlhbi5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTQ3NjQvMjRfMDZfMjYtYS1saW5lLW9mLXJpdmlhbi10cnVja3MtaW4tYS1wYXJraW5nLWxvdC1fbWYtZGxvYWQtaW1hZ2Utc291cmNlLXJpdmlhbi5qcGcmdz03MDA"/></p>
<p>图片来源：Rivian。</p>
<p>然而，Rivian 并没有停滞不前。它仍在不断发展其业务，并在此过程中达成重要里程碑（更多内容见下文）。它的资产负债表上仍有约 75 亿美元的现金和短期投资，并且与关键合作伙伴有更多的资金承诺，以帮助其继续推动业务发展。</p>
<p>虽然 Rivian 从零开始构建电动车的目标非常大胆，但它已经取得了很大成就，并且似乎有能力在可预见的未来继续推进。</p>
<h2>2. Rivian 正在大规模运营</h2>
<p>Rivian 达到的最重要目标之一是实现大规模生产汽车。公平地说，它目前的年产量大约为 50,000 辆，尚未达到 <strong>特斯拉</strong>(TSLA -5.06%) 或传统汽车制造商的水平。但它仍在运营一座高效运转的大型工厂。许多已经倒闭的电动车制造商从未达到这一点。因此，这一成就不应被忽视或低估。</p>
<p>也就是说，这并不是终点。还有很多工作要做，Rivian 仍在推进其待办事项清单。实际上，达到实质性生产规模是 2023 年的目标。在 2024 年，目标是更新生产线，以提高盈利能力。这实际上意味着减少损失，但这里的重要事实是，Rivian 确实做到了，2024 年第四季度的净亏损相较于 2023 年同季度减半。</p>
<h2>3. 毛利润是实现正收益的第一步</h2>
<p>2024 年第四季度同比改善的主要原因是 Rivian 实现了在该季度获得适度毛利润的目标。这意味着这家电动车制造商销售汽车的收入超过了生产成本。它并没有覆盖销售、一般和管理（SG&amp;A）或研发（R&amp;D）费用，因此在 Rivian 成为一家盈利公司之前还有很长的路要走。但毛利润是这一过程的第一步。</p>
<p>2025 年的大目标是全年实现适度毛利润。考虑到计划进行另一轮工厂停产以进行进一步升级，毛利润可能会出现一些波动。例如，它故意在第一季度生产了额外的汽车，以便在停产期间有车可售。如果 Rivian 能够实现全年毛利润目标，或者即使在市场环境下接近这一目标，它将继续取得成为可持续盈利业务所需的进展。</p>
<h2>Rivian 正在一步一步取得伟大成就</h2>
<p>从零开始建立一家汽车制造公司需要时间。这正是 Rivian 正在经历的过程，尽管这可能对华尔街来说进展不够快，但这并不意味着没有取得重要进展。是的，距离公司实现可持续盈利还有很长的路要走。因此，这只适合更激进的投资者。但如果你有这个承受能力，在投资者情绪低迷时购买 Rivian 是一个潜在的机会。如果它能够继续实现设定的目标，未来将有实质性的增长机会。</p>

RIVN

<p>Rivian Automotive 的股票从峰值下跌了 90%，但仍有理由考虑购买。尽管情绪消极，Rivian 正在以 75 亿美元的现金推进，并实现生产规模，年产约 50,000 辆汽车。该公司最近实现了毛利润，标志着向盈利迈出了重要一步。尽管仍面临挑战，Rivian 的持续改进和增长潜力使其成为寻求利用未来成功的激进投资者的一个吸引人的选择</p>

<p>Shares of <strong>Rivian Automotive</strong>(RIVN -3.48%) have fallen 90% from their high-water mark. They are down some 30% in 2025. Given those two numbers, it's hard to believe there's anything positive to say about this electric vehicle (EV) company, but there is. While Rivian is definitely a stock meant for more aggressive types, here are three reasons some investors might want to buy it like there's no tomorrow.</p>
<div class="lb-trans"><p><strong>Rivian Automotive</strong>(RIVN -3.48%) 的股价已从其高点下跌了 90%。在 2025 年，它的股价下跌了约 30%。考虑到这两个数字，很难相信对这家电动车（EV）公司有任何积极的看法，但实际上是有的。虽然 Rivian 显然是一只适合更激进投资者的股票，但以下是一些投资者可能想要毫不犹豫地购买它的三个理由。</p>
</div><h2>1. The mood around Rivian is very negative</h2>
<div class="lb-trans"><h2>1. Rivian 的情绪非常消极</h2>
</div><p>Clearly, given the stock price declines, investors do not see Rivian the same way as they did before. That, however, is more a function of the lemming-like nature of investors than anything about Rivian's business right now. Essentially, when Rivian came public investors were enamored with anything related to electric vehicles and the stock price was bid up to unrealistic heights. Now investors shy away from EV stocks, leading to Rivian's massive fall from grace.</p>
<div class="lb-trans"><p>显然，考虑到股价的下跌，投资者对 Rivian 的看法与之前大相径庭。然而，这更多是投资者像羊群一样的行为，而不是 Rivian 当前业务的反映。实际上，当 Rivian 上市时，投资者对与电动车相关的一切都充满热情，股价被推高到不切实际的高度。现在，投资者对电动车股票避而远之，导致 Rivian 的巨大跌落。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTQ3NjQvMjRfMDZfMjYtYS1saW5lLW9mLXJpdmlhbi10cnVja3MtaW4tYS1wYXJraW5nLWxvdC1fbWYtZGxvYWQtaW1hZ2Utc291cmNlLXJpdmlhbi5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F814764%2F24_06_26-a-line-of-rivian-trucks-in-a-parking-lot-_mf-dload-image-source-rivian.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Rivian.</p>
<div class="lb-trans"><p>图片来源：Rivian。</p>
</div><p>Only Rivian hasn't been floundering along doing nothing. It is still building out its business and hitting important milestones along the way (more on this below). And it still has around $7.5 billion worth of cash and short-term investments on its balance sheet, with commitments for more from key partners, to help it continue moving its business forward.</p>
<div class="lb-trans"><p>然而，Rivian 并没有停滞不前。它仍在不断发展其业务，并在此过程中达成重要里程碑（更多内容见下文）。它的资产负债表上仍有约 75 亿美元的现金和短期投资，并且与关键合作伙伴有更多的资金承诺，以帮助其继续推动业务发展。</p>
</div><p>While Rivian's goal of building an EV truck from the ground up is audacious, it has achieved a great deal and appears to have the wherewithal to continue its progress for the foreseeable future.</p>
<div class="lb-trans"><p>虽然 Rivian 从零开始构建电动车的目标非常大胆，但它已经取得了很大成就，并且似乎有能力在可预见的未来继续推进。</p>
</div><h2>2. Rivian is operating at scale</h2>
<div class="lb-trans"><h2>2. Rivian 正在大规模运营</h2>
</div><p>One of the most important goals Rivian has reached is producing cars at scale. To be fair, the roughly 50,000 a year production level it is hovering around isn't on par with <strong>Tesla</strong>(TSLA -5.06%) or with the legacy automakers. But it still operates a large factory that is running at a high level. The many EV makers that have fallen by the wayside never got to this point. So this achievement shouldn't be overlooked or shortchanged.</p>
<div class="lb-trans"><p>Rivian 达到的最重要目标之一是实现大规模生产汽车。公平地说，它目前的年产量大约为 50,000 辆，尚未达到 <strong>特斯拉</strong>(TSLA -5.06%) 或传统汽车制造商的水平。但它仍在运营一座高效运转的大型工厂。许多已经倒闭的电动车制造商从未达到这一点。因此，这一成就不应被忽视或低估。</p>
</div><p>That said, it also isn't the end of the road. There is a lot more to be done, and Rivian is still moving forward on its to-do list. In fact, reaching material production scale was the 2023 goal. In 2024, the goal was to update its production line so it could improve its profitability. That really means reduce its losses, but the important fact here is that Rivian did just that, with its net loss in the fourth quarter of 2024 being cut in half relative to its loss in the same stanza of 2023.</p>
<div class="lb-trans"><p>也就是说，这并不是终点。还有很多工作要做，Rivian 仍在推进其待办事项清单。实际上，达到实质性生产规模是 2023 年的目标。在 2024 年，目标是更新生产线，以提高盈利能力。这实际上意味着减少损失，但这里的重要事实是，Rivian 确实做到了，2024 年第四季度的净亏损相较于 2023 年同季度减半。</p>
</div><h2>3. A gross profit is the first step toward positive earnings</h2>
<div class="lb-trans"><h2>3. 毛利润是实现正收益的第一步</h2>
</div><p>The big reason for the year-over-year improvement in the fourth quarter of 2024 was that Rivian achieved its goal of turning a modest gross profit in the quarter. That just means that the EV maker made more selling its cars that it cost to produce them. It didn't cover its selling, general and administrative (SG&amp;A) or research and development (R&amp;D) expenses, so there's still a long way to go before Rivian is a profitable company. But a gross profit is the first step in the process.</p>
<div class="lb-trans"><p>2024 年第四季度同比改善的主要原因是 Rivian 实现了在该季度获得适度毛利润的目标。这意味着这家电动车制造商销售汽车的收入超过了生产成本。它并没有覆盖销售、一般和管理（SG&amp;A）或研发（R&amp;D）费用，因此在 Rivian 成为一家盈利公司之前还有很长的路要走。但毛利润是这一过程的第一步。</p>
</div><p>The big goal for 2025 is to turn a modest gross profit for the entire year. Given that there's another factory shutdown planned, for further upgrades, there could be some ups and downs on the gross profit line along the way. For example, it purposefully produced extra cars in the first quarter so it would have cars to sell through the shutdown. If Rivian can achieve its full-year gross profit goal, or even if it just comes close given the market environment, it will be continuing to make the progress it needs to be a sustainably profitable business.</p>
<div class="lb-trans"><p>2025 年的大目标是全年实现适度毛利润。考虑到计划进行另一轮工厂停产以进行进一步升级，毛利润可能会出现一些波动。例如，它故意在第一季度生产了额外的汽车，以便在停产期间有车可售。如果 Rivian 能够实现全年毛利润目标，或者即使在市场环境下接近这一目标，它将继续取得成为可持续盈利业务所需的进展。</p>
</div><h2>Rivian is achieving great things one step at a time</h2>
<div class="lb-trans"><h2>Rivian 正在一步一步取得伟大成就</h2>
</div><p>It takes time to build a car manufacturing company from the ground up. That is what is playing out at Rivian and, while it may not be happening quickly enough for Wall Street, this doesn't mean that important progress isn't being made. Yes, there is a long way to go before the company is sustainably profitable. And, because of that, it is only appropriate for more aggressive investors. But if you have the stomach for it, buying Rivian while investors are so downbeat is a potential chance to get in on the ground floor. Assuming it keeps hitting the goals it lays out, there is a material opportunity for growth ahead.</p>
<div class="lb-trans"><p>从零开始建立一家汽车制造公司需要时间。这正是 Rivian 正在经历的过程，尽管这可能对华尔街来说进展不够快，但这并不意味着没有取得重要进展。是的，距离公司实现可持续盈利还有很长的路要走。因此，这只适合更激进的投资者。但如果你有这个承受能力，在投资者情绪低迷时购买 Rivian 是一个潜在的机会。如果它能够继续实现设定的目标，未来将有实质性的增长机会。</p>
</div>

购买 Rivian Automotive 股票的三个理由，仿佛没有明天