Rakuten reported on January 7
Despite few mass production, Rivian (stock code "RIVN"), known as Tesla's rival, was still touted during its November 2021 listing process, with a market value of more than $100 billion at one point, in large part because Rivian received strong support from shareholder Amazon.
Recently, Amazon's Rivian support has been shaken.
Recently, Amazon "parted ways" and agreed to withdraw from rival, automaker Stellantis NVStellantis (STLA. US) to buy an electric delivery van. Carlos Tavares, CEO of Stellantis, said it was a "substantial number."
Affected by the incident, Rivian shares recorded their biggest decline since mid-November 2021, and as of today's close, Rivian shares were $87.33 and had a market capitalization of $78.6 billion.
Part of the reason Rivian has made a name for itself among the electric vehicle companies and has received such a high valuation is that in 2019, Amazon announced that it had ordered 100,000 electric delivery vehicles from Rivian, and the first 10,000 would be delivered by the end of 2022, which made Rivian's market value once surpass that of Ford (F.US) and General Motors (GM. US)。
According to the regulatory filing filing filed at the time of Theivian listing, Amazon owns exclusive rights to the Rivian van. For a period of four years from the date of delivery of the first van, Amazon has a pre-emptive right to purchase any van built by Rivian for the next two years.
One fatal wound to the deal is that it allows Amazon to work with other automakers to develop electric delivery vehicles. Of course, Amazon issued a statement saying, "We are still excited about the partnership with Rivian, which will not change our investment, cooperation, order size and timing." ”
Founded in 2009 and headquartered in Elvin, California, Rivian also has an auto assembly plant in Nomore, Illinois, focusing on the Rivian R1T electric pickup truck and rivian R1S electric SUVs.
The four wheels of the pure electric pickup R1T can be driven independently, using the differential speed of the tires on both sides to achieve in-situ turning, which is also known as "Tanka turn".
As of the first half of 2021, Rivian has no revenue, with operating losses of $409 million and $1.021 billion in 2019 and 2020, respectively; Rivian's operating loss in the first half of 2021 was $990 million, compared with an operating loss of $381 million in the same period last year.
As of June 30, 2021, Rivian had 6274 employees, as of March 31, 2021, Rivian had 4269 employees, and as of June 30, 2020, Rivian had 2185 employees, as can be seen, Rivian's personnel expansion has been more significant in the past year.
Like Tesla CEO Musk, Rivian's CEO is also a bully. Rivian CEO RJ Scaringe holds a Ph.D. from MIT's Sloan Automotive Laboratory.
Rivian has completed multiple financings since 2019, raising more than $10 billion.
Among them, Rivian was led by Amazon in February 2019 with $700 million, and Ford invested $500 million in April 2019. Cox Automotive invested $350 million in Rivian in September of the same year.
Before the Spring Festival in 2020, Rivian raised another $1.3 billion from investors.
In July 2020, Rivian raised $2.5 billion in new funding, led by T. Rowe Price Group, with Soros Fund Management LLC, Coatue, Fidelity and Baron Capital Group participating, as well as Amazon and BlackRock.
In January 2021, Rivian raised $2.65 billion, led by T. Rowe Price, with other investors including Fidelity, Amazon's Climate Pledge Fund, Coatue and D1 Capital Partners.
In July 2021, Rivian announced a $2.5 billion financing from investors including Amazon, Ford, and T. Rowe Price.
During its listing in November 2021, Rivian issued $78 million and issued 153 million shares, raising a total of $11.934 billion. Rivian's IPO was the largest IPO of 2021 and the sixth largest in U.S. stock history.
After the IPO, Amazon held 18.9% of Class A shares and 17.3% of the shares; Rowe Price Associates holds 15.8% Class A shares and 14.5% equity; Global Oryx Company Limited holds 13.3% Class A shares and 12.1% equity, Ford Motor Company holds 12.2% Class A shares and 11.1% equity; and Manheim Investments holds 4.6% Class A shares and 4.2% equity.
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