Rivian is a publicly traded company, with Amazon as the largest shareholder with 18.1%
Founded: 2009
Country of origin: USA
Industry: Automobiles
Owner: Various, largest shareholder is Amazon.
Type of Company: Public
Traded as: RIVN (Nasdaq)
Headquarters: Irvine, California, USA
Website: www.rivian.com
What is Rivian?
Rivian Automotive, Inc. is an American electric vehicle manufacturer and technology company. It produces electric vehicles including an SUV and a pickup truck on a skateboard platform, which can support future vehicles or be adopted by other companies. Rivian is based in Irvine, California, with its main manufacturing plant in Normal, Illinois. The company went public in 2021.
Current Ownership
Rivian is a publicly traded company on the Nasdaq Stock Exchange in New York, and thus has a plethora of different owners. There are however two large owners at the time of writing. They are:
- Amazon (18.1%)
- Abdul Latif Jameel (12.7%)
Amazon invested in order to get easy access to delivery vehicles, which Rivian produces for them.
Rivian Ownership History
- 2009: Founded by R.J. Scaringe as Mainstream Motors.
- 2011: Renamed to Rivian, focusing on electric vehicles.
- 2019: Amazon lead a $700 million investment round.
- 2021: Rivian raises $2.65 billion ahead of their IPO.
- 2021: Went public in November, IPO issued.
Vehicles produced by Rivian
Rivian produces a variety of different vehicles, all built on the same framework:
- R1T: An electric pickup truck.
- R1S: An electric sport utility vehicle (SUV).
- Electric Delivery Van (EDV): Produced primarily for Amazon.
The following vehicles are planned:
- R1X: A planned high-performance model with an unknown production date.
- R2: A smaller, less expensive SUV, expected to launch in 2025.
Rivian History
- 2009: Founded by R.J. Scaringe, initially as Mainstream Motors.
- 2011: Renamed to Rivian.
- 2017: Acquired a manufacturing plant in Normal, Illinois, for primary production.
- 2018: Revealed first electric vehicles, the R1T pickup truck and the R1S SUV.
- 2019: Amazon led a $700 million investment round. Ford invested $500 million, and Cox Automotive invested $350 million in the same year.
- 2020: Secured $2.5 billion in funding from T. Rowe Price and others.
- 2021: Went public through an IPO. Major shareholders included Amazon and Abdul Latif Jameel.
- 2022- present: Continued production and development of electric vehicles, including the EDV for Amazon, and announced upcoming models.
Frequently Asked Questions about Rivian
Is Rivian a good stock to buy?
We do not provide financial advice. We recommend you make conclusions based on your own research. Checking Rivian out at Yahoo Finance would be a good starting point for more information.
When did Rivian go public?
Rivian went public on November 10, 2021, through an IPO on the Nasdaq stock exchange. The company was valued at around $100 billion at the closing of the first day of trading.