FILE - This Nov. 14, 2018, file photo shows a Rivian R1T at Rivian headquarters in Plymouth, Mich. Shares in Rivian Automotive are set to trade publicly on Wednesday, Nov. 10, 2021, and the world should get a better idea of just how hot investors are for the electric vehicle market.
The closing price of $100,73 gave Rivian a market value of about $85.9 billion, greater than that of Ford and just below General Motors. That’s noteworthy because Rivian has so far delivered about 150 of its electric pickup trucks to customers, mostly employees, whereas Ford and GM sell millions of cars globally each year.
Rivian priced the offering of 153 million shares at $78, giving it proceeds of nearly $12 billion. The company said it will use the money to ramp up production of its trucks, vans and SUVs. Rivian has a contract with Amazon to build 100,000 electric delivery vans at its factory, a former Mitsubishi plant in Normal, Illinois. Ford Motor Co. holds a 13% stake and has said the companies would work jointly to develop electric vehicles.
Options for the vehicles include a $10,000 battery upgrade that will extend the driving range from 314 miles to more than 400 miles . A three-person roof-mounted tent adds $2,650 to the bill and an off-road recovery kit will cost an additional $600.
Rivian Ford GM I’m sure everyone would try an electric car at least once. But with little to no room, big families and a average 200 mile range for basically just city driving I’m sure people are passing electric cars right by
Rivian Ford GM World has gone mad.
Rivian Ford GM Economics is not a science lmao 91 billion gtfo of here
Lol what is wrong with this country
Rivian Ford GM 예수님께서는 치료자이십니다 메시아의_오심이_가깝습니다 HisComingIsNigh
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