Rivian Motors makes good on its promise to be Tesla’s new nemesis

Rivian closed on February 26th, and the bounce in the company’s stock is no small thing: Its one of the top performers of the IPO market this year, with a 68.5% gain so far….

Rivian Motors makes good on its promise to be Tesla's new nemesis

Rivian closed on February 26th, and the bounce in the company’s stock is no small thing: Its one of the top performers of the IPO market this year, with a 68.5% gain so far.

Rivian trades on the NYSE under the ticker RIV. It closed on February 26th at $17.88.

The Rivian F Series — pictured here — was intended to sell for $34,000, and due to the switch to all-electric powertrains, the 150 kilowatt battery pack is charged through a dedicated facility, as opposed to the traditional EV battery becoming idle, cannibalizing fuel. RIVIAN also plans to house a pilot electric charging station in every dealership, thanks to its partnership with ChargePoint.

The company, founded in 2014, raised $350 million in an IPO on March 1, 2018, opening the door for all-electric vehicles to become more mainstream.

Source: a Deal Buyer article by Estefania Oliver and cameroon’s Caribbean News

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