Rivian produces electric pickup truck beating Tesla, Ford
Brian Sozzi gives us his latest glimpse into the successful production of an electric pickup by electric vehicle startup Rivian beating other major EV automakers. Check out Brian Sozzi and Julie Hyman to see what this breakthrough could mean for Rivian.
- Well, a lot of companies are vying to produce the first electric pickup. We know some are coming. The Ford Lightning, for example. But there is actually, physically, the first off the line, what, that's now released for sale? Do I understand correctly, Brian Sozzi? And it is not one of the established brand name car manufacturers.
BRIAN SOZZI: That's right. Finally, Julie, finally, Rivian, an electric pickup truck that supposedly drives 300 miles on a single charge, is now rolling off the line. And a tweet from Rivian founder RJ Scaringe caught my attention and tweeted this yesterday. You can see these pictures there. Of course it's an amazon blue, Julie. Amazon, a big investor in Rivian. I don't think I'm surprised.
But here, too, they seem to be preparing for the delivery of these trucks. You have two models. Forgiveness. Will finally start delivering these trucks to customers this year as the company nears a possible IPO. They have filed paperwork in confidence so they have a chance to go public sometime this year. Unclear if they do. But again they submitted these papers.
Reviews, Julie, I've seen estimates ranging from $ 70 billion to $ 80 billion for Rivian as a public company. Will be a fascinating IPO if it actually happens. But Julie, this company came out and got a ton, a ton of cash from really big investors here. And they're pretty good at it. Amazon invests in Rivian. Ford invested in Rivian. T. Rowe Price has led at least two investment rounds in Rivain. So they clearly have a knack for raising capital and selling their story.
And it seems like a story, Julie, that is very different from Nikola, very different from Lordstown Motors. It looks like they are actually a real operation preparing to bring real trucks to market that people can buy and drive on the road. At the same time, of course, they are also looking for electric vans. Amazon placed an order for 100,000 Rivan electric vans in 2019, so they have that in the game too.
So look at the end. My opinion is this. It will be interesting to see how the market picks up a possible Rivian IPO. With that kind of high rating for an electric vehicle startup maker, Wall Street will have some big expectations for Rivian given the market trend this year, that's for sure.
Are Rivian and F-150 a killer too? When Ford made that investment in Rivian it was really fascinating to me because Ford is the leader in trucks in that country and now they are starting to sell or take pre-orders their first electric F-150. So it's interesting that Ford is invested in Rivian. At the same time they are advancing their own electric vehicle and maybe they are seeing some drop in sales because of Rivian.
Finally, Julie, where is the Tesla Cybertruck? Where is it? It's time. It's not there. Basically, I think Rivian is paving a great way to get out before Elon Musk.
- I have a question. What the heck is Amazon Blue Soz? I've never heard that phrase before. I didn't know Amazon-- I mean, it's a pretty color.
BRIAN SOZZI: That's what I call it. This is my hot hashtag version of that color here. I don't know if it's called Amazon Blue. I'm not going out and buying a Rivian truck, Julie. But for me that was the first thing I thought. It looks blue when I subscribe or renew my subscription to Amazon Prime every year.
- Hm. I guess I just never paid attention to the color when I was on Amazon.
BRIAN SOZZI: We have Tiffany blue, we have Amazon blue.
- Good. Good. Brian Sossi coined a sentence here this morning. You heard it here first. All right, we'll take ...
In this article:
You should check here to buy the best price guaranteed products.
Israeli troops kill Hamas militants in West Bank: military
Brentford for real; Solskjaer back on hot seat?
Donald Trump could be charged with multiple crimes over his attempts to overturn his loss in the state of Georgia, report says
Lindsey Graham says that he wants Donald Trump to run again in 2024, just a few days after the former president trashed him
Dad builds one-of-a-kind bed for his toddler transitioning out of his crib
Meet a single dad with $550,000 in student loans for his 5 children: 'I'm not going to take the chance of not sending my kids to school'