A five-day rally in Rivian stock, which went public on Tuesday, November 9, catapulted the emerging EV maker’s market value to roughly $ 150 billion on Tuesday. This value – 131.2 billion euros at current exchange rates – already exceeds the value of the German Volkswagen group.
Rivian, which has investors like Amazon and Ford, rallied 118% in just five days and made the company the most valuable US company with no earnings. Amazon has placed an order for the Rivian to supply 100,000 electric vans by 2030.
With no cars sold, Rivian is now worth more than the German giant, which produces around 10 million vehicles a year and invoices around 250 billion euros a year.
Rivian, which develops the R1T electric pickup and the R1S electric SUV, began shipping its first vehicles in September, almost all of which are owned by its employees. However, the company estimates that by the end of 2023, annual production at its main plant will reach 150,000 units.
During today’s session, Rivian exceeded almost 90% of the shares listed on the S&P 500, including major companies such as Goldman Sachs, Boeing, Citigroup or Starbucks.
