{"id":8879,"date":"2021-11-10T17:39:46","date_gmt":"2021-11-10T17:39:46","guid":{"rendered":"http:\/\/TheNextWeb=1372832"},"modified":"2021-11-10T17:39:46","modified_gmt":"2021-11-10T17:39:46","slug":"teslas-biggest-cybertruck-competitor-just-rolled-out-the-largest-ipo-this-year","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=8879","title":{"rendered":"Tesla\u2019s biggest Cybertruck competitor just rolled out the largest IPO this year"},"content":{"rendered":"\n

Rivian today showed that people \u201cwill come\u201d even before you build it. Today, the<\/a> electric truck manufacturer raised a massive $11.9 billion in its initial public offering (IPO).<\/span> This is the biggest so far this year and the sixth-largest ever on a US exchange. It trumps Uber which raised $8.1 billion in 2019.<\/span><\/p>\n

The company, founded in 2009, is now valued at more than $77 billion \u2014 nearly as much as traditional companies Ford and General Motors.<\/span><\/p>\n

Shares were offered at $78 each \u2014 above the previously estimated price between $57 and $62, showing there\u2019s a keen commitment to buy. Pretty good for a company with almost no revenue from actual vehicle sales. <\/span><\/p>\n

I spoke to Maxim Manturov, Head of Investment Research at Freedom Finance Europe, just before the IPO, who explained:<\/span><\/p>\n

\n

Rivian\u2019s two consumer products, the Rivian R1T and Rivian R1S received over 48,390 pre-orders as of the end of September, while its commercial vehicle, Rivian EDV, received substantial orders and investments from Amazon. <\/span><\/p>\n

By 2025, Amazon will own 100,000 EDV\u2019s, with 10,000 to be purchased by the end of 2022.<\/span><\/p>\n<\/blockquote>\n

Entering a dominant market: <\/span><\/strong>How does Rivian stack up against its two main rivals? <\/span><\/h2>\n
\"a
<\/i><\/a>The Rivian R1T to be shipped in 2022.<\/figcaption>