Rivian: Electric Car Startup Is Already The 2nd Largest In The US

Rivian: The manufacturer of electric cars Rivian held the public offering of shares (IPO) this Wednesday and achieved very impressive results for such a young company.

According to Reuters, the company now has a market value of $100 billion — placing it second among US automakers, even ahead of the traditional Ford ($77 billion) and General Motors (US$86 billion). Up front is only Tesla, which recently hit the $1 trillion valuation level.

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From the IPO Rivian will use approximately US$12 billion to expand, develop new products and increase the number of units produced.

With the good performance of the Nasdaq debut, Rivian’s shares also rose by 53%. Interestingly, Amazon is one of the largest investors in the brand, with a 20% stake in the company, followed by its own rival Ford (12%).

founded in 2009, Rivian only started selling the electric pickup R1T in September 2021 and is now planning the arrival of a van and SUV.

The idea is that the main factory, located in the US state of Illinois, will be able to supply a million vehicles by the end of this decade – with production expanding to another factory and headquarters that can be built in China and Europe.

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