Thursday, September 29, 2022
News Rivian Could Go Public with a Valuation Almost Equal to Honda

Rivian Could Go Public with a Valuation Almost Equal to Honda

Rivian should go public with a value of over $53 billion, which could later reach $80 billion

  • Rivian wants to make its Initial Public Offering soon, with a target of $53 billion USD

  • This high valuation is due to public interest and the support of Amazon

  • Only 3 companies raised more than $8 billion when they went public since 2011

Rivian is a young manufacturer that has big ambitions, and the means to reach them.

Since its foundation in 2009, Rivian has been slowly developing cutting edge electric vehicle technology, but things have sped up considerably in the last year or two, following the announcement of the company’s first vehicle, the R1T.

Because of the massive interest generated by this electric pickup and the desire for investors to find the “next Tesla”, the company’s valuation has been on the uprise for a while.

Add to the mix a 20% stake by Amazon, the most valuable company on earth, and the value of Rivian is skyrocketing.

In order to make use of that valuation, Rivian is planning on going public soon and its value could reach $53 billion USD, almost as much as Honda is currently worth.

The plan is to sell 135 million shares at a price that would range from $57 and $62 each when the company lists on the NASDAQ under the symbol “RIVN”.

Only 3 other companies have raised more than $8 billion USD while going public since 2011, Meta Platforms Inc. in 2012, Alibaba in 2014 and Uber in 2019.

Even if Rivian is only starting to sell vehicles, with only 1,000 deliveries planned before the end of the year, it could be valued higher than Ferrari and quite close to well established automakers such as Honda, General Motors and Ford, the latter of which owns a 5% stake of the EV maker.

Rivian has reported $1 billion in losses for the first half of 2021, but the sales of its first vehicles combined with the order of 100,000 delivery vans placed by Amazon will help the company become profitable in 2022.

Trending Now

Hertz Ordered 175,000 Electric Vehicles from GM

The landscape of the rental car industry will change dramatically in the coming years, with several new electric car models coming to market. In fact,...

Porsche Could be Working on a Three-Row Electric SUV

This model would be positioned above the Cayenne in the automaker’s lineup Descriptions of this model say it could be part-sedan, part crossover ...

BMW Unveils the XM, the Most Powerful Vehicle in its History

The following vehicle leaves the factory with a plug-in hybrid powertrain, but let's just say that its primary mission is to deliver a good...

The 2024 Chevrolet Silverado HD Gets More Diesel Power, More Tech and a New Interior

The Duramax Diesel engine now makes up to 975 lb-ft of torque LT and higher trim levels receive a new interior to go...

Volvo to add a Subcompact SUV and a Mid-Size Sedan to its EV Lineup

The SUV will be smaller than the XC40 while the sedan should be about the same size as the S90 Both models should...


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.