A recent $Amazon (AMZN.US)$ test of a $Rivian Automotive (RIVN.US)$ electric van showed that the battery's performance is below the EV startup's claims.
According to the report, the battery drained 40% faster than usual if the van's heating or cooling was on. Rivian said in its prospectus that the all-electric delivery vans would have a range between 120 miles and 150 miles, depending on size.
Rivian shares fell 8.2% to 118.11 on Monday. RIVN stock rose 67% in the first few days after its IPO, to 129.95. But shares closed down 1% last week after a wild ride.
Among other EV stocks, China-based  $XPeng (XPEV.US)$ edged up 1.1% after briefing reclaiming a buy range intraday.  $NIO Inc (NIO.US)$surged 7.3%, while $Li Auto (LI.US)$ advanced 1.9%.
Among U.S. automakers,  $Lucid Group (LCID.US)$ reversed opening gains and dropped 8.2%,  $General Motors (GM.US)$ rose 3.7% and Ford (F) was up 5.4%. U.S.-traded shares of Germany's $VOLKSWAGEN A G (VWAGY.US)$ dipped 0.4%.
It seems that there are formidable enemies everywhere.
Do you think RIVN is ready to compete in the EV battlefield? 
Source:
Tesla Stock Rises As Musk Teases Model S Plaid In China; Battery Issue Drains Rivian Stock

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