Electric vehicle maker Rivian gets off to a flying start on Wall Street

The Rivian brand has just delivered its first electric pick-ups.

AP - Ann-Sophie Fjello-Jensen

Text by: RFI Follow

1 min

The title of the American electric vehicle maker, based in the state of Michigan, has jumped 50%, which values ​​the company at more than 100 billion dollars on the stock market.

Created twelve years ago, Rivian has just launched its first cars on the market.

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Rivian delivered its first

R1T electric

in September to its employees, and only delivered these first SUVs in December.

A total of 1,200 vehicles are expected to be sold this year, for a future capacity of 150,000 vehicles per year.

This exceptional valuation on the stock market of 120 billion dollars, the manufacturer owes it to high-level supporters, who have invested heavily in the company.

This is the case for Ford, Amazon but also several prestigious funds such as T. Rowe Price, BlackRock or Soros.

Ford, for example, has invested more than a billion dollars, and holds 13% of the capital of its rival.

A still fragile success

Amazon, the e-commerce giant, has acquired nearly 20% of Rivian.

He has ordered 100,000 electric vans by 2030.

With the some 12 billion raised, the manufacturer hopes to ramp up and build other factories, in Texas or Arizona.

While Rivian is ahead of the game today, his success is fragile.

It is still in deficit and will have to face the launch of General Motors' electric Hummer at the end of the year, then the battery version of Ford's famous F-150 and

next year. 

►Also listen: Electric car: how to keep its promises?

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