Rivian Automobiles Inc is an American automobile technology company and electric vehicle manufacturer.
Rivian – History
In 2009, Robert RJ Scaringe founded the company. It was named Mainstream Motors during the initial days. It was later renamed Avera Automotive or AveraMotors before landing the current name.
Even though the company struggled a little bit at the start, the year 2015 saw rapid growth and the company was capable of opening additional facilities in places like Michigan and the Bay Area.
Furthermore, the company which had only around 250 employees in 2018, had a total strength of 750 employees, and the growth continued. As per the latest available details, in 20121, Rivian had an employee strength of around 9000.
The first car models made at the facilities were intended to be sports cars. But after the release of certain models, Rivian planned to restart their business to make a more significant impact in the automobile industry. That was the thought that prompted the company to shift its focus toward electric autonomous vehicles.
Rivian became a public company through an IPO in 2021. The shared old and the initial prices offered put the value of the company around $66.5 billion. A few days later, Ford announced that the company does not plan to corporate and create an electric vehicle.
However, even though they dropped the plan of working together, Ford made it clear they will retain a 12% stake in the company which was calculated to have a value of $10 billion after the IPO.
Rivian – Nasdaq 100 Index
As of 2021, Rivian is a public trading company. Rivian trades under the name RIVN on the Nasdaq stock exchange. Nasdaq stock is an American financial service corporation that owns and operates three stock exchanges in the United States.
The company which is one of the notable rivals of Tesla, Rivian Automotive was revealed to join the Nasdaq 100 index before the opening on December 19.
The list known as the Nasdaq 100 induces names of the largest non-financial companies that are added to the Nasdaq. Currently conglomerates like Alphabet, which is the parent company of Google, Amazon. com, Microsoft, Apple Stock, Nvidia, and Tesla are among the largest ones on the Nasdaq 100 list.
The future of a growing company like Rivian has always been a topic for discussion among everyone. A few months back, Elon Musk the CEO of Tesla made a statement that companies like Rivian, which are both electric vehicle start-ups are heading toward bankruptcy.
Rivian is one of the biggest rivals of Tesla which is owned by Musk. He also added that unless the companies cut down their costs dramatically, both companies are bound to end up in the car cemetery like every other car company with the exception of Ford and Tesla.
A majority of the articles and information available online propose a good future for Rivian as their value is said to only increase in the coming years.
Experts say that if the company can live up to its full potential then the initial inventors will be able to make a profit. But it should also be kept in mind that the chances for the failure of a new company are higher compared to others.
The affinity of the American market towards trucks and SUVs also is a possible problem that can affect the growth of new companies like Rivian. It is difficult to predict the future of a company as things are prone to changes at the moment.
According to the reports from some analysts, Rivian will have a jump or increase in its value in the coming year but the company in order for that to happen, the company should take sudden and effective measures to increase the scale of its production.