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Rivian Aims for $60 Million Dollar Value at Upcoming IPO

In January, Rivian was valued at under 30 Billion dollars, but after a busy year, the brand is hoping to be valued at twice that figure. When they go public in the coming weeks, buyers will pay between $57 and $62 per share.
Rivian R1T 6 photos
Rivian R1T and R1SRivian R1TRivian R1TRivian R1TRivian R1T
Over the next week, the brand is going on a roadshow to pitch the shares to potential investors. This comes after the company initially targeted an IPO of $70 billion back in May.

When that didn't work out, they set the plans in motion for this IPO in September. Interestingly enough, when they did so, they were actually aiming for a valuation of 80 billion dollars. That would've made the Californian-based EV truck maker worth more than General Motors.

While they've clearly lowered expectations somewhat, 60 billion dollars would put them high up in the automotive world. They would immediately be worth more than Honda, Lucid, and nearly twice that of Porsche at that valuation.

Keep in mind that Rivian has only been producing customer-ordered vehicles for two months. Of course, Rivian has a few assets that might make the valuation a little more reasonable.

They're the first to manufacture and produce a real electric pickup truck, the R1T. Ford holds at least a 5% stake in the company as well despite working on its own EV pickup truck, the Lightning. Some say that they're stake is up to 12% total.

Amazon just divulged this week that it owns 20% of Rivian. Amazon has ordered 10,000 delivery vans from Rivian. These companies aren't known for betting poorly. Should the valuation end up between the planned share purchase price, the EV carmaker would be worth at minimum $53 billion.

There is no specific date set for the IPO but we expect it within two weeks from today. Sources close to the matter say it could be as early as next week.

 
 
 
 
 

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