Just a couple of months ago, Rivian delivered its first vehicles, mostly to its own employees. It will only produce about 1,200 units by year-end at its plant in Normal, Illinois.
To put it in perspective, NIO sold 142,036 electric cars on the most recent 12 months.
Rivian’s valuation is huge, and its $78B market cap outpaces Chinese EV maker NIO ‘s (NIO) $63 billion market value, and it is more than those of EV start-up Lucid (LCID) and XPeng (XPEV) combined.
Ford has a market cap of $78.4 billion, GM's is $84.4 billion and Stellantis NV, the former Fiat Chrysler, is valued at $64 billion.
Quoting An article from a few days ago when Rivian’s was valued at $52 billion … The $52B valuation implies that Rivian will sell 2 million vehicles in 2030, or nearly 2.5 times the number of Tesla (TSLA) vehicles produced over the past 12 months and 66% more vehicles than Honda sold in the U.S. in 2020.
These manufacturing milestones are highly improbable given Rivian’s lack of manufacturing infrastructure and experience as well as the intense competition it faces in the EV market.
Submitted November 10, 2021 at 07:53AM by vulcan_on_earth https://ift.tt/3oiT9CW
