Tuesday, November 30, 2021
News Rivian Valued at $86 billion After its First Day of Trading

Rivian Valued at $86 billion After its First Day of Trading

On Wednesday morning, Rivian had an implied value of $91 billion, besting General Motors

  • This puts its worth above those of Ford and equal to GM.

  • Shares opened at $106,75 yesterday morning.

  • Shares sold initially for $78 apiece the night before.

Rivian’s on fire! Its initial public offering has turned into one of the largest of its kind this year. Rivian has yet to deliver 1,000 vehicles, a goal it hopes to achieve by the end of this year, but already speculators are betting that the EV start-up’s future will be extremely bright.

Rivian Hopes to Fill All its Pre-Orders by Late 2023

At $106,75 a share, Rivian’s stakeholders have already made plenty of money. Ford owns 12% of the EV company which is valued at $10 billion. The strange twist is that Ford closed at a $77 billion valuation or $9 billion less than Rivian. Recently, Amazon announced that it too was a shareholder. With a 20% stake, Amazon’s shares are now worth about $17 billion according to CNBC.

In its prospectus, Rivian predicts that it will lose up to $1.28 billion in the third quarter of 2021 with revenues that are unlikely to surpass $1 million if they make any at all. Production of the R1T began recently and R1S SUVs should be leaving the assembly line in December.

The rush towards electrification has been extremely kind and generous to Rivian, Tesla, and one or two more EV builders.

Trending Now

Volkswagen Hires Experts from BMW and Apple to Work on Battery Technologies

Volkswagen wants to become a major player in battery production Apple’s head of battery development was hired by VW The automaker also recruited...

Mercedes-Benz Vision EQXX will be the Most Efficient Mercedes EV Ever

The concept will be unveiled on January 3 at the CES It will have a highway energy consumption of less than 10 kWh/100...

Cadillac Dealers Down by 40% in the US Since Many didn’t Want to Sell EVs

Cadillac lost about 360 dealerships in the US since 2018 because their owners didn’t want to invest into EVs General Motors bought out...

The GMC Hummer EV’s Max Tow Rating Is a Reasonable 7,500lbs

It is the lowest of the current crop of electric trucks. It’s lower than some midsize trucks like the Chevrolet Colorado. Weight and...

Stellantis will Work on Solid-State Batteries with Factorial Energy

This technology makes safer batteries that have larger capacities Factorial is already working on a similar project with Hyundai and Kia Stellantis wants...
Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai


Please enter your comment!
Please enter your name here

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