rivian
New York (AFP) - Electric truck maker Rivian soared in its Wall Street debut on Wednesday, making the company worth more than traditional automakers Ford and General Motors. Shares in the company backed by Amazon and Ford leapt as high as 50 percent in its first day of trading, taking Rivian's market capitalization to more than $100 billion, if stock options and other convertible shares are taken into account -- well above Detroit's legacy manufacturers. The red-hot startup is taking advantage of investor enthusiasm for the electric vehicle sector, where star performer Tesla recently surpassed...
AFP
New York (AFP) - Electric truck maker Rivian soared in its debut on Wall Street on Wednesday, making the company, which has produced very few vehicles so far, already worth more than traditional automakers Ford and General Motors. Shares in the company backed by Amazon and Ford leapt 50 percent in its first trades to $119.45 before easing back, taking its market capitalization to more than $100 billion, if stock options and other convertible shares are taken into account -- well above Detroit's legacy manufacturers. Rivian announced late Tuesday that it had raised $11.9 billion in its initial ...
AFP
San Francisco (AFP) - Electric vehicle maker Rivian on Tuesday said it raised $2.65 billion in a new funding round valuing the Amazon-backed US company at $26.7 billion. Investors included Amazon's Climate Pledge Fund and Fidelity Management and Research, according to Rivian. "This is a critical year for us as we are launching the R1T, the R1S and the Amazon commercial delivery vehicles," Rivian founder and chief executive RJ Scaringe said in a release. "The support and confidence of our investors enables us to remain focused on these launches while simultaneously scaling our business for our ...
AFP
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