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Five ways newly public EV start-up Rivian compares with Tesla

After raising nearly $12 billion in an upsized initial public offering that made it one of the largest ever, Rivian Automotive Inc made its Nasdaq debut on Wednesday after raising nearly $12 billion in an upsized initial public offering that made it one of the largest ever.

Similarly to other electric vehicle startups, Rivian aims to capitalize on the growing market demand for zero-emission vehicles in order to challenge market leader Tesla Inc.

As a result of being further behind the growth curve than Tesla and its CEO Elon Musk, here are five areas where Rivian and its CEO R.J. Scaringe compare favorably to the EV market leader, according to a report by EV market research firm EV market research.

Market cap

Tesla, which was founded in 2003 and is the world's most valuable automaker, has recently seen its stock price plummet after CEO Elon Musk polled Twitter users about the possibility of selling a tenth of his stake. Despite briefly falling outside of the $1 trillion market capitalization club on Wednesday, Tesla rallied to a market capitalization of $1.05 trillion.

Rivian, which was founded in 2009, made its debut on the Nasdaq stock market on Wednesday following a record-breaking initial public offering (IPO). The company had a market capitalization of nearly $100 billion at the time of its IPO. After General Motors Co., which is valued at approximately $87 billion and Ford Motor Company, which is valued at approximately $79 billion, it is the second most valuable automaker in the United States, behind Lucid Group, which is valued at approximately $70 billion and is valued at approximately $70 billion.

Global Sales

Tesla delivered more than 600,000 vehicles between the months of January and September of this year alone. The company expects sales to increase even further when two additional factories currently under construction open later this year. Tesla's revenue increased by 57 percent year on year in the third quarter, reaching $13.76 billion.

Rivian has just begun selling its first vehicle, a pickup truck dubbed the R1T, which was unveiled earlier this year.

Assembly Plants/Employees

Tesla currently has assembly plants in Fremont, California, and in the vicinity of Shanghai, China, and is in the process of expanding its operations in Austin, Texas, and Berlin, Germany, among other locations. At the end of the previous year, Tesla employed nearly 71,000 people around the world.

According to Wedbush, the two existing plants will have a combined annual production capacity of 1 million vehicles by the end of 2022, which will more than double once two additional plants are operational.

A vehicle assembly plant in Normal, Illinois, which is currently capable of producing 150,000 vehicles per year and will be capable of producing 200,000 vehicles per year by 2023, is currently owned and operated by Rivian. A second plant in the United States will be built, with plans to expand to China and Europe in the future, according to the company. In its current state, Rivian employs approximately 9,500 individuals.

As reported by Reuters, Scaringe of Rivian said his firm's goal is to produce at least one million vehicles per year by the end of the decade.

Types of Vehicles

Tesla's Model 3 sedan is the best-selling electric vehicle in the world, according to industry statistics. Additionally, the Model S sedan, the Model X SUV, and the Model Y crossover are all available from the company. Eventually, it plans to offer an electric pickup truck called the Cybertruck, in addition to a second-generation roadster and a Class 8 semi-trailer truck.

Rivian currently manufactures the R1T pickup truck in Illinois, and the company plans to expand production to include the R1S SUV and a delivery van for its largest shareholder, Amazon.com, in the near future. Rivian is headquartered in Chicago. According to Scaringe, the company has stated that additional vehicles based on the R1 platform will be introduced by 2023, including more affordable models, as well as more efficient vehicles. Additionally, he stated that the company intends to add additional commercial vehicles to the Amazon van.


A more independent path has been chosen by Tesla, which has vertically integrated its battery cell manufacturing with its self-driving chip design.

Rivian has signed a contract with Amazon to provide 100,000 vans by 2025, as part of a larger agreement. Amazon owns a 20 percent stake in the startup, according to the company. Also noteworthy is that Ford, another significant stakeholder, has stated on numerous occasions that its investment in Rivian is strategic, despite the fact that the company previously scrapped a Lincoln SUV that was based on a Rivian chassis. Rivian also intends to vertically integrate its battery cell manufacturing operations into its overall business.

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