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Business
Oleksandr Pylypenko

Rivian vs. NIO: Which Electric Vehicle Stock is a Better Buy?

NIO Rivian RIVN Rivian Automotive

With more than 6.6 million EVs being sold worldwide in 2021, the electric vehicle (EV) industry is expanding rapidly. This figure indicates over a 100% increase compared to 2020. Besides, EV market share surged from 4.11% in 2020 to 8.57% in 2021, confirming current trends toward EV adoption. 

The demand for low emission vehicles should accelerate in the forthcoming years, thus enabling the global EV market to grow at a CAGR of 22.6% to $802.81 billion by 2027. 

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