The ambitious new American manufacturer Rivian has raised more than €10 billion with its IPO in New York. Far beyond expectations, as the company initially aimed for a capital injection of around €7 billion.
Rivian is a young American manufacturer that will make electric SUVs and pick-ups. Unlike many new ambitious start-ups, Rivian has managed to gain trust. Amazon has a 20 percent stake in the company. With the IPO on Wall Street in New York, Rivian has raised no less than 11.9 billion dollars, converted about €10.3 billion.
The company, which was founded in 2009, raised $700 million from Amazon in February and $500 million from Ford that same year. Cox Automotive also stepped in two years ago with an amount of 350 million dollars. Amazon has an order for 100,000 electric vans with Rivian. For the consumer, Rivian has the R1T and R1S on the shelves. Rivian also has plans to attack the European market.
– Thanks for information from Autoweek.nl