Rivian officially submitted an IPO application, Tesla’s arch rival

ortingsa Date:2021-10-08 16:05:28 From:www.ortingsa.com
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Recently, according to media reports, rivian automotive, an electric vehicle manufacturer invested by Amazon and Ford, submitted an IPO application in the United States on Friday and plans to be listed on NASDAQ. Its goal is to raise $5 billion to $8 billion through listing.


Rivian automotive, founded in 2009, is an American electric vehicle manufacturer. The brand has two models, namely high-end electric pickup r1t and SUV R1s. Both cars adopt simple and atmospheric appearance design, the overall shape is square, and the iconic lamp group shape also has a sense of future and science and technology. It is reported that as of September 2021, 48390 customers have booked the brand’s high-end electric pickup r1t and SUV R1s.


Rivian officially submitted an IPO application, Tesla's arch rival


IPO documents show that in the first half of 2021, rivian had zero revenue and a net loss of $994 million; In 2020, the company’s net loss was US $1.02 billion, and most of rivian’s losses came from research and development. Rivian said in the IPO document: we are a company in the development stage. So far, we have not obtained substantive income. The production and delivery of vehicles will begin in September 2021. The company will continue to carry out infrastructure construction, charging network layout, battery production, service operation and software development.


Amazon and Ford hold more than 5% of the company respectively. Peter krawiec, senior vice president of Amazon in charge of global enterprise and business development, is a member of rivian’s board of directors. In the future, rivian’s commercial vehicle business will be highly dependent on Amazon. The company said that Amazon has some exclusive rights to purchase electric delivery vehicles from rivian for at least four years, and then will have the right of priority.


Rivian’s target users are outdoor sports and leisure enthusiasts, so the company is investing in charging stations in remote areas away from main roads. IPO documents show that the company has established 24 “rivian adventure network” DC fast charging stations in 7 states and 145 “rivian road point” charging stations in 30 states.


Editor’s comments: new energy is the general trend. Compared with Tesla cybertruck, the rivian r1t with the same sense of future in appearance design will also attract many consumers. Who do you prefer for these two pickups?

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