American Rivian Electric Wrench Manufacturer, which is called the “nightmare” of the founder and head of Tesla Ilona Mask, prepared to strike on Tesla. The company is preparing to go to the IPO and announced its range: from 57 to 62 dollars per share. According to the Wall Street Journal, the company’s assessment will exceed 60 billion dollars.
Placement of securities can take place next week. The company will begin to bargain on the NASDAQ Exchange under the RIVN ticker. The volume of accommodation will be from 8.4 to 9.6 billion dollars. Application for IPO Rivian filed in August 2021th.
Rivian is one of the direct competitors of Tesla – has already been able to attract 8 billion dollars from investors, among which there are Amazon and Ford. At the end of last year, the Company was able to sell the first batch of electric pickup R1T in just a week. Machines have not yet collected: due to limiting production capacity, most potential buyers are unlikely to receive their car before the first quarter of 2022.
In August last year, another potential competitor Tesla was released on the stock exchange – Chinese Xpeng Motors. During the IPO, the company “blew” market, selling more than 99.7 million shares of 15 dollars each. The automaker earned about 1.5 billion dollars on it.