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Friday 12 November 2021
Tesla rival Rivian surges on IPO debut as investors pile into eco-friendly stock
Rivian ended its first day as a public company valued at almost US$88 billion, more than tripling its last private valuation after investors piled into 2021’s biggest initial public offering.
That puts the electric truck-maker on par with General Motors and makes it more valuable than Ford, one of its top investors, as well as EV rival Lucid.
On a fully diluted basis, including options and restricted stock units, the Irvine, California-based company is valued at about US$98 billion.
Read the whole news on driving.ca