Rivian Automotive, founded by 36-year-old Robert «RJ» Scaring, is rapidly gaining momentum, and it is likely that very soon it will show up «in the rearview mirror» of Elon Musk’s #tesla. The privately-owned premium SUV and pickup truck maker, more specifically RJ Scaring himself, has managed to raise massive funding from some of the most respected names in corporate America, raising a total of $ 1.7 billion, including $ 700 million from #amazon and $ 500 million dollars from #ford Motor Co.
According to reports, today, August 27, 2021, the company privately applied for an initial public offering. According to this document, the electric vehicle manufacturer estimates its capitalization at about $ 80 billion. According to #bloomberg, #ipo could take place as early as mid-November. So, dear readers and potential investors, if you are late with Tesla, then you have a chance to start the game from scratch.
Amazon CEO Jeff Bezos, the richest man in the world, visited #Rivian’s headquarters in Plymouth, Michigan last fall and was very impressed when he met Scaringe, who founded the company in 2009 with his Ph.D. from MIT. September 19, 2019 Amazon
SUVs and # pickups are some of the most lucrative consumer car segments in the US, Europe and China, and #rivian promises to make a leap forward in both durability and range.
Rivian opened access to its proprietary platform (skateboard), and this was a good motivation for participating in the RJ Scaring Ford project. Ford plans to spend $ 11 billion over the next few years on electric vehicle development, more than 1.4 times its 2018 total capital expenditure.
The R1S SUV may pose the biggest threat to Tesla. Depending on the choice of battery, the Rivian R1S promises to provide 386 to 659 kilometers of range on a single charge. These are good numbers to compete with the Tesla Model X and other electric SUVs and crossovers currently on the market or coming soon.
The R1S SUV and R1T pickup are expected to be priced between
It should be noted that the R1S is not an SUV, but a real SUV, which has been confirmed by many tests, as well as a rally in the deserts of Nevada and Arizona, and a run in South America.
rj Scaringe is determined to disrupt conventional wisdom about electric vehicles.
An avid hiker and mountain biker, Scaringe insists that his cars can go off-road, force water obstacles 1 meter deep, and has a reinforced chassis that protects the battery from damage from rocks and other objects.
Over the past year, Rivian’s workforce has more than doubled to 750 people. Dozens of employees from Ford, Tesla and Britain’s McLaren Automotive Ltd. have joined the company, as well as about 50 employees from California rival Faraday Future, occupying key positions. Former vice president of Apple Inc. Mike Bell, who played the lead in launching the iPhone, is now Rivian’s first CTO. Jeff Hammud, who previously held a similar position at Jeep, became the head of the design department.
While Tesla CEO Elon Musk is known for making bold predictions and challenging himself and the entire production and sales team, Scaringe is more conservative. Rivian aims to produce and sell between 20,000 and 40,000 vehicles in 2021.
“The capital requirements are huge and constant,” Mike Ramsey, an analyst at research firm Gartner, told the Times.
“Manufacturing is Rivian’s biggest challenge,” Ford CEO Jim Hackett said in a press release.
The next few years will show whether Rivian can competitively produce the durable, high-mileage SUVs and trucks that RJ founder Scaringe represents in the relentlessly competitive global automotive market.
The Rivian team’s backlog before the start of mass production is good, and everything seems to be in order with its reputation. Let’s see if Rivian can take advantage of the favorable circumstances. It won’t be long to wait. In the fall, serial production starts, and in the fall, the company will go public. By the end of the year, it will become clear how well Rivian is ready for the battle for the buyer.
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