US EV Startup Rivian Going Public

-

 EV Rivian To IPO On Nasdaq




                                        Source:  Rivian

Multi Billion IPO on Nasdaq

Irvine, California based electric vehicle maker Rivian is considered by many to be the leader of EV startups.  The company is expected to go public this week.  It is looking for a valuation of $65 billion which would put in the major leagues alongside of Ford, which is valued at $77 billion, and GM, which is valued at $85 billion.  Many stock market analysts and automotive experts are asking is Rivian the next Tesla?  It certainly does have big backers.

Amazon With a 20% Stake

The company is backed by Ford and Amazon, which has a 20% stake. Rivian plans to list on the Nasdaq with the symbol "RIVN".  Despite the fact that it is a startup, the company has a revenue stream. It has put its electric pickup truck R1T into production and plans to deliver 1,000 pickups to customers by the end of 2021.  It also has a big contract with Amazon to deliver 100,000 "last mile" commercial electric delivery vans for Amazon through 2024. 

More Vehicles in the Pipeline

With the IPO, the company hopes to raise a whopping $10 billion.  That will help to greatly expand the pace of vehicle production.  Rivian says it will start taking orders on its electric delivery vans in 2022 and deliver them to buyers in 2023.  And it will sell fleet versions of its R1T e-pickup and R1S e-SUV, meaning it will compete with Ford's commercial version of its much-anticipated F-150 Lightning electric pickup.

Comments

Post a Comment

Popular posts from this blog

New Electric Surfboard from Sweden

-
Image
  Surfing With No Waves Needed, Anytime of Year                                                                                Source:  Awake Surfboard Can Hit 36 MPH Sweden-based Awake has developed a powerful electric surfboard that can hit speeds of 36 mph.  It can accelerate from 0 to 30 mph in just 4 seconds.  The Ravik S 22 electric surfboard is able to surf on any body of water any time of year including on snowy winter days.  And, it doesn't need waves to surf! It provides an extreme surfing ride, developed by an award-winning surfboard company. Tech Specs The e-board is powered by a 12-kW brushless motor.  The motor has three speed settings and three throttle sensitivity modes.  It has a wireless speed control system that cuts throttle response time down to .02 seconds.  The quick response time makes it much easier for the surfer to time turns and jumps.  A 1.9-kW battery provides a ride time of 15 to 20 minutes. That version of the board is priced at $15,000. An extended
Read more

Extreme Electric Surfboard

-
Image
  Surfing With No Waves Needed, Anytime of Year                                                                                Source:  Awake Surfboard Can Hit 36 MPH Sweden-based Awake has developed a powerful electric surfboard that can hit speeds of 36 mph.  It can accelerate from 0 to 30 mph in just 4 seconds.  The Ravik S 22 electric surfboard is able to surf on any body of water any time of year including on snowy winter days.  And, it doesn't need waves to surf! It provides an extreme surfing ride, developed by an award-winning surfboard company. Tech Specs The e-board is powered by a 12-kW brushless motor.  The motor has three speed settings and three throttle sensitivity modes.  It has a wireless speed control system that cuts throttle response time down to .02 seconds.  The quick response time makes it much easier for the surfer to time turns and jumps.  A 1.9-kW battery provides a ride time of 15 to 20 minutes. That version of the board is priced at $15,000. An extended
Read more

Electric, New MG Cyberster Sports Car

-
Image
  China's SAIC Revolutionizes the Historic British MG Brand                                              Source:  MG Cyberster Electric MG Sport Car Concept Becomes a Reality The legendary sports car company MG was founded in the 1920's in Oxford, England. It enjoyed a long history of creating iconic MG, 2 seat sports cars. It is now China owned and China based, acquired a few years ago by SAIC Motors.  The new MG has a fabulous concept car the Cyberster.  It's an all electric sports car that was recently introduced at the Shanghai 2021 Motor Show.  MG just announced the vehicle is going from concept and into production.  MG calls it the "world's first purely electric e-sports cockpit".  The design of this electric vehicle is sleek, futuristic and highly styled with a wide grill that is a throwback to the original MGB as are the round headlights that open like eyes when the car is turned on.  It is truly an iconic, all electric sports car. EV Capabilities The
Read more