The Rivian crew are a 'lil different from your average EV
Background: Rivian Automotive is a US electric vehicle maker founded back in 2009. It's backed by Amazon (which owns anywhere between a fifth and a quarter of the company).
What happened: This crew are a 'lil different from your average EV. They focus on pick-up trucks and big SUVs. And they just had their share market debut...which saw them valued at more than US$100 billion.
What else: This made Rivian's IPO the biggest for 2021. It also made the company the second-most valuable car manufacturer behind Tesla, but ahead of General Motors and Ford.
💡If you ain't electric-first, you're electric-last (AKA, you're not valued by the market).
💡Part of the reason Rivian generates so much share market buzz is because Tesla paved the way. Tesla raised US$226 million when it went public in 2010...and although it didn't hit profitability until this year, it's valued at US$1 trillion.
💡Similarly, Rivian only just delivered its first batch of cars...and there were only 56 of them. That's around US$1.8 billion per car! And yet, it's valued higher than Ford and GM. Rivian's only challenge now is to live up to the market hype.
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