Rivian, the Electric-Truck Maker, Closes with a Big Gain After Its I.P.O.
While the plucky designer Rivian may have ended its ride to success, leaving investors empty-handed, small manufacturers can learn from its brand of R&D done right and early access to action plan (a page that includes a flexible manufacturing timeline, pragmatic pricing plans, and open collaboration).
This investment was beyond the scope of its traditional automotive competition, so it’s only fitting that it ended on a high note. According to Bloomberg, investors bid up the stock more than 35% on that opening day. It’s the type of return-on-investment you see with technology companies like Uber or Yelp, but without any P&L profits.
While Rivian’s stock may have won’t stay at its post-IPO price, it’s a testament to the pedigree and good intentions of the company, and should inspire us to see the next generation of auto manufacturers.
The electric truck (which you can watch us test drive here) is slated to begin manufacturing in 2021.