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Rivian Automotive (RIVN) – Share price chart, background, and sentiment |
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Widgets supplied in partnership with Acuity. Pricing and sentiment does not represent ADSS data or market view.
Rivian Automotive, formerly known as Mainstream Motors, is an American electric car manufacturer based in California. The company specialises in producing electric SUVs and Pickup Trucks and is in the process of developing a national network of charging stations for their fleet.
Widgets supplied in partnership with Acuity. Pricing and sentiment does not represent ADSS data or market view.
Founded by American entrepreneur Robert Scaringe in 2009, Rivian has undergone various transformations, making the switch to electric vehicles in 2011 and moving from an initial focus on sports vehicles to utility shortly after. The company was an early investor in autonomous car technology and has partnered with Amazon to produce a fleet of electric delivery vehicles. Most of Rivian’s cars are found on the higher price range of the SUV market and include commercially important vehicles such as trucks.
Rivian’s 2021 IPO valued the company at over $66 billion, and first day price increases saw the market capitalisation increase to $100 billion by close. Since then, the company has announced partnerships with German manufacturer Mercedes, while cutting headcount in 2022 to decrease costs in what some analysts have described as a ‘challenging period’.
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