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· Posted on
February 21, 2024

Let's hear it for Rivian, who had the biggest IPO for 2021 despite making just 56 cars

The Rivian crew are a 'lil different from your average EV

What's the key learning?

  • Rivian just had their share market debut...which saw them valued at more than US$100 billion
  • This made the company the second-most valuable car manufacturer behind Tesla, but ahead of General Motors and Ford
  • In the car biz, f you ain't electric-first, you're electric-last (AKA, you're not valued by the market). 

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.

So what's the key learning?

💡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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