Rivian Goes IPO, Becomes 4th Most Valuable Car Company
Just one day after the electric car manufacturer Rivian made its stock market debut, it already ranks fourth among the most valuable automotive companies behind Tesla, Toyota and Volkswagen. With a stock market valuation of 117.74 billion dollars (103 billion euros), the company was thus ahead of companies such as Daimler, General Motors and Ford. This means that the most valuable five companies include Tesla, Rivian and BYD, three manufacturers that only produce electric cars.
Rivian’s flying start on the stock market is all the more remarkable when you know that the company has only delivered a low double-digit number of its first cars. The first Rivian R1T pickups were only handed over to customers at the end of October. What seems to convince Rivian’s investors is the market potential of its vehicles. In addition to pickups, Rivian is also working on electric delivery vehicles that can be used universally. Amazon, for example, not only invested in Rivian itself as a shareholder, but also ordered 100,000 of the new delivery vehicles.
Just how great the potential is could already be seen with the German StreetScooter. Demand exceeded expectations, but the owner, Deutsche Post, did not see itself in a position to act as a vehicle producer in line with its own strategy. Not so with Rivian. The enthusiasm of investors seems to be building on this market potential. Whether it can be realized is currently still completely open.
This article was also published in German.
