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Rivian wins the electric pickup truck race as first vehicle rolls off Illinois assembly line
Sep. 14, 2021 5:13 PM ET
https://seekingalpha.com/news/3739717-rivian-wins-the-electric-pickup-truck-race-as-first-vehicle-rolls-off-illinois-assembly-line?utm_source=advfn.com&utm_medium=referral

- Rivian (RIVN) becomes the first automaker to produce an electric pickup truck, beating out Tesla (NASDAQ:TSLA), Ford (NYSE:F), and General Motors (NYSE:GM) after multiple delays.
- The cofounder and CEO of Rivian, RJ Scaringe, tweeted out a picture Tuesday afternoon of the company's first customer vehicle driving off the assembly line at Rivian's Illinois plant.
- The electric pickup scene will soon get more competitive. GM is expected to release its Hummer EV pickup this fall, followed by fellow startup Lordstown Motors (NASDAQ:RIDE), and then Ford. Tesla has delayed its cybertruck deliveries to late 2022.
- The truck is marketed towards affluent consumers, with a price tag of roughly $73,000. An SUV model and Amazon delivery vans are also in the works at Rivian.
- Rivian is seeking an IPO at a reported valuation of $80B, higher than the market caps of several well-known automakers including Ford and GM.