American manufacturer of Rivian electric vehicles, which is also called the “nightmare” of the founder and head of Tesla Ilona Mask, attracted 11.9 billion dollars during the initial placement of shares (IPO), writes CNBC.
IPO results exceeded forecasts and dried by TESLA. Rivian sold 153 million shares (135 million planned) 78 dollars per piece, although initially intended to realize them at a price of 72-74 dollars. Rivian shares will begin to bargain on November 10 on the NASDAQ Exchange under the RIVN ticker. The company’s market capitalization approachs 70 billion dollars, which is close to the cost of Ford Motor Company (80 billion dollars).
Placement of Rivian papers has become the fourth in terms of funds raised on the US stock exchanges over the past ten years. The first three places were taken by Alibaba ($ 25 billion), Facebook (16 billion dollars) and General Motors (15.8 billion dollars). Rivian achieved success on the IPO contrary to financial indicators. According to company forecasts, in the third quarter, expenses will amount to $ 1.28 billion at a million dollars income.
Amazon, who invested in Rivian more than $ 1.3 billion, made an order for 100 thousand cars by 2030. Already in 2022, 10 thousand R1t electroopers are expected. The cost of the machine begins from 67.5 thousand dollars. Rivian stated that her factory in Illinois was able to produce up to 150 thousand cars per year. At the same time, as of the end of October, the company has released only 180 cars.
In November, Reuters reported that global automakers will spend $ 515 billion to the development and production of electric vehicles and batteries until 2030. More than the rest – 110 billion dollars – I pledged to invest German Volkswagen Group.