For Amazon and Ford-backed Rivian, it’s surprising because it just started production of the R1T
The Rivian is now surprisingly worth more than BWM, Ford, Daimler and VW
Rivian is now the world’s third most valuable automaker, with a post IPO value of $151.95 billion. Just yesterday, its value increased by 15 percent which now puts it ahead of Volkswagen and Daimler. It is only behind Tesla and Toyota. Toyota has a market cap of $262.02 billion while Tesla has a market cap of over a billion. The price of Volkswagen is at a low of $139.52 billion. BYD is the fifth largest automotive brand in the world with a market cap of $133 billion. Mercedes-Benz parent Daimler is valued at just $108 billion in sixth, while GM is valued at just $91 billion and new EV start-up Lucid Motors has already surpassed giants like Ford and Stelantis to $89 billion. .
One thing is clear, electric car startups are gaining value and legacy players due to their electrification plans of late. For example, BMW is the 11th most valuable automaker behind the Chinese Great Wall Motors. Chinese EV startup XPeng is worth $44 billion.
For Rivian, backed by Amazon and Ford, this is surprising as it has just started production of the R1T, and then soon in December it will begin deliveries of the R1S electric SUV and electric van, originally designed for Amazon. it was done. ,
Recently, Rivian revealed that it will sell electric vans to third parties in 2023. It is also bringing its own charging network to the table and has unique EV IP which has helped create a very impressive electric pick-up truck, a first of its kind that has been appreciated by critics.
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