Grand View Research projects the EV market will grow at a 32.5% CAGR through 2030 despite the recent slowdown. Here is the latest on Rivian and BYD. Rivian produced 49,476 vehicles in 2024, which was a decrease from 2023. They expect 2025 deliveries to drop further to between 40,000 and 46,000 due to macro challenges. The main catalysts ahead are the R2 launch, the Georgia plant, and the VW partnership. It currently trades at less than 3x sales. BYD saw sales reach 4.27 million units in 2024. They have maintained profitability through vertical integration and their own battery production. Growth is expected to normalize to around 13% annually through 2027. It trades at 16x earnings.