Company Solutions in the Passenger Transportation Market: Emerging, Stimulating Opportunities for United States Truckers, To Drive Overhead Market Growth
Rivian Technologies Inc, founded by private equity investor Anthony Levandowski, former engineer with Google who is credited with developing the self-driving car, today announced its completion of its initial public offering and that its share price exceeded expectations. Rivian’s shares were available for trading on the Nasdaq exchange Wednesday. On its opening day the company sold 12.6 million shares for $14 each, including the sale of 1.5 million shares by existing shareholders. The IPO raised $190 million for Rivian. Based on the share price on Thursday morning, Rivian has recovered over $26 million, meaning that investors have benefited handsomely in their investment in Rivian. At the company’s opening stock price of $17 per share, Rivian’s market cap is now $540 million. The IPO was well received by analysts. Dahlman Rose & Co. analyst Dale Pfau issued a report titled, “CEO Levandowski’s Banner Year – Rivian’s Shares Rocket After Initial Trading, Says Buy” Thursday morning, citing a “thundering debut”. Other market observers are also on board. Guggenheim Securities analyst Samik Chatterjee issued a report titled “IPO Kicks Off Shift to Electrics in Large Consumer Vehicles” on Wednesday, writing, “Reaching the public markets marks the beginning of a major transformation in both the transportation and infrastructure industry.” Rivian’s IPO gives a boost to the electric motor development sector, and gives a timely reminder to investors and industry observers that electric vehicles (EVs) aren’t just still waiting for the debut of Tesla’s Model 3. Rivian’s Raises $190 Million! Rivian’s public debut promises more news about the future of electric vehicle development and the technology behind them. With Rivian’s IPO, electric motors will still have a ready market. Apple has been working on an electric version of its popular electric scooter, the electric scooter that has so far flooded the market.
Electric Vehicle Market is Ready for Revenue Gains Now Rivian is not just manufacturing an electric motor; Rivian is building a viable car company, one that doesn’t just market an electric motor but also a proven commercial vehicle, the Rivian eMotor, in a series of three electric, hybrid-electric, and plug-in electric models. This development technology is not designed to replace the internal combustion engine but to enhance performance for trucks, buses, and other transportation vehicles. The company says its products will meet safety, longevity, and performance standards while being the quietest, most efficient, and technologically advanced electric vehicle available.
Tags: Rivian, electric vehicle, electric vehicle market, electric vehicles market projections, electric vehicle market share, electric vehicle company innovations, electric vehicle company investments, electric vehicle market growth, electric vehicles comparison, electric vehicle comparison trends, electric vehicle markets, electric vehicle marketplace
The editor of this piece, Georgia Breaux, is a commercial product market analyst and the founder of Empact Equity, a strategic consulting and research consultancy firm focusing on innovation and smart market analysis. Previously, Georgia worked in the information technology industry and oversaw the strategic planning of an $80 million IT division at a global telecommunications company.
Georgia holds a masters degree in finance and economics from the University of the South. She is fluent in German and French. Georgia also writes about emerging technology issues and trends on her personal blog at GeorgiaforTheFuture.org.