The electric car space has been abuzz with RIVN stock after Tim Cook was spotted taking a ride in Rivian’s R1T over the weekend. It’s just a bit of fun, honestly, and means absolutely nothing of consequence in the grand scheme. But it did serve one important purpose… proving that Rivian is the EV company to watch right now.Here’s the nitty gritty on RIVN: The electric truck maker is hitting its production target of 25,000 vehicles this year… but it’s firing some people. This might sound spooky, but it’s actually a good thing. The era of “grow at all costs” is over, and Rivian is focusing on growing strategically and profitably. That paves the way for RIVN stock to take off.Long term, why am I such a huge fan? Well, Rivian has a great first-mover advantage in the electric pick-up truck market (one that will end up being quite massive) with a very technologically sound, high-performance, and cool-looking electric car. Not to mention it has a fantastic seven-seater SUV that will likely be the premier vehicle in that market once it fully launches. Further, Rivian has $17 billion on the balance sheet. And when it comes to an early stage industry like this, capital is everything. That amount of cash gives the company a bazooka in a water gun fight. Not to mention, the company is also backed by global titan Amazon (AMZN)…But RIVN stock isn’t the only electric vehicle company on my radar. Some other major EV news recently broke ¬– that is, Walmart (WMT) has agreed to buy at least 4,500 electric vans from Canoo (GOEV), with the potential for up to 10,000 EVs. The stock majorly popped on this announcement. You probably know I’m a long-term believer in this company, too. So, why is this deal a gamechanger for GOEV stock?I think Canoo has the most interesting tech in the electric car game. Its modular platform removes all the wasted space inside the vehicle, maximizing square footage by pushing everything out to the van’s edges. That’s an especially large value prop for big families – and delivery vans. That’s the deal we saw with Walmart. By fitting more inventory in its delivery vehicles, the company can minimize transportation and upkeep costs. And Canoo’s vehicle allows just that. Similarly, Canoo’s tech also allows it to attack another major market – pickup trucks. By maximizing square footage, it can create a truck that allows for a bigger bed without creating a massive vehicle. This will increase demand among construction workers, contractors, etc. Currently, the company’s issue lies with liquidity. Its quarterly burn rate is about equal to its cash balance, so bankruptcy is a very real concern. The company plans to prove its worth in manufacturing and raise more capital to continue. And the Walmart partnership is a huge step in that direction. It almost ensures the company will be able to raise that nondilutive financing to become cash-flow positive. And if it finds solid footing, GOEV stock could really rocket high.?Join Luke's Free Newsletter: https://signup.investorplace.com/?cid=MKT502688&eid=MKT612161?Visit Our Website: https://investorplace.com/hypergrowthinvesting/? Subscribe: https://www.youtube.com/c/HypergrowthInvesting?sub_confirmation=1