Amazon-backed startup ‘Tesla killer’ shows how to become America’s biggest company without earning anything – RT Business News – .

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Amazon-backed startup ‘Tesla killer’ shows how to become America’s biggest company without earning anything – RT Business News – .


    Rivian Automotive est devenue la plus grande entreprise américaine en termes de valeur marchande malgré des revenus faibles quelques jours seulement après ses débuts exceptionnels au Nasdaq.

</p><div><p>L'action était à près de 130 $ par action à la fin de la séance de bourse de vendredi, marquant une hausse quotidienne de plus de 5,65 %, après un bond de plus de 67 % par rapport à son prix d'offre publique initial de 78 $ lors de sa première journée en bourse le Mercredi.</p><div class="read-more large">
<p>Lire la suite


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The market value of the Amazon-backed California-based electric truck maker has exceeded the market capitalization of its electric vehicle counterpart Lucid without any sales to its name. The latter has seen its share price increase by 339% this year.

“(It’s) really mind-boggling when he hasn’t even earned any discernable income yet”, Michael Hewson, chief market analyst at CMC Markets, said of Rivian’s valuation, as cited by Bloomberg.

Rivian, which was founded in 2009 and dubbed “Tesla killer” by some media, produces electric pickup trucks and SUVs. The automaker has so far only delivered 150 of its R1T electric pickup trucks to customers (mostly employees) and has little revenue to report.

The startup deployed the R1T – its first vehicle – in September and will launch its electric SUV, the R1S, in December. Prices for the pickup start at $ 67,500, while the base SUV package starts at $ 75,500.

The electric car sector has been gaining the attention of investors since mid-2020, when policymakers and businesses around the world chose to support the industry amid a growing urgency to tackle climate change.

For more articles on economics and finance, visit the business section of RT

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