Is Rivian Stock Available? Electric Truck Maker Raises $2.65 Billion
Investors are hungry for Rivian stock. The electric truck maker is moving closer to production as the industry continues to trend in the right direction. However, is a Rivian IPO coming in the near future?
When Will Rivian Stock Hit the Market?
The electric vehicle (EV) market is exploding after Elon Musk’s success with Tesla (Nasdaq: TSLA). Yet, most competitors have struggled to live up to expectations.
Rivian is the latest company within the industry to take on this challenge. And it’s continuing to raise money to fund its upcoming production. So, is it only a matter of time before we see Rivian stock available?
Rivian is preparing to produce an electric pickup truck and sport-utility vehicle (SUV). The company plans to have both models ready to hit the road this coming summer.
But its strength comes in the form of its investors. While Rivian is not a publicly-traded company as of now, its group of investors include giants such as Amazon (NYSE: AMZN) and Ford Motor Company (NYSE: F).
And this list of powerful investors continues to grow. Rivian has now announced a new investment round of $2.65 billion. This new round of financing was “led by funds and accounts advised by T. Rowe Price Associates, Inc.”
T. Rowe Price (Nasdaq: TROWE) is buying into the potential. Moreover, Fidelity and other new or existing investors contributed to the latest round of investment as well.
But when can you expect Rivian stock to hit the market? It seems that an initial public offering may come much quicker than originally expected. You will want to keep your eyes focused on Rivian as it closes in on production of its flagship electric truck.
Rivian Plans and Future Expectations
2021 looks to be a massive year for Rivian. The plan is to launch its electric pickup truck and sport-utility vehicle. In addition, an Amazon commercial delivery vehicle is also in the works.
“This is a critical year for us as we are launching the R1T, the R1S and the Amazon commercial delivery vehicles,” said Rivian founder and CEO RJ Scaringe. “The support and confidence of our investors enables us to remain focused on these launches while simultaneously scaling our business for our next stage of growth.”
The journey is just beginning for this promising company. But that doesn’t rule out Rivian stock becoming available in the near future.
The collaboration with Amazon and these massive investments are both signs of good things to come. And a Rivian IPO may depend on the success or failure of the planned electric vehicle launches later this year.
Investing in EV Stocks
EV stocks are gaining a lot of interest amongst investors. And how can you blame them? Tesla stock is now a household name and Elon Musk is the richest man in the world. The sky is the limit and Rivian is only going up at the moment.
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Rivian has a lot to prove and a ton of interest in its promising electric vehicles. Therefore, we may see Rivian stock sooner rather than later if this year goes to plan for the trending EV company.