How Can I Buy Rivian Stock Today?

Rivian Automotive is poised to become one of the major players in the electric vehicle market. You can't buy into the company right now; the company's IPO is expected to come in the second half of 2021. If you're thinking of investing in Rivian, you will be in good company, with the several blue-chip companies who have already invested in Rivian. Amazon, Ford Motor Company, BlackRock, T. Rowe Price, and Sumitomo Corporation head the list. Rivian's net worth of $27.6 billion could increase to $50 billion after the planned IPO.

What's The Market For Electric Vehicles In The United States?

Unless a lot of smart people are wrong, the market for electric vehicles in the US is poised for lift-off. EVs currently account for 2% of new vehicle sales in the US. By comparison, EVs account for over 10% of new vehicle sales in most European countries, ranging from 11% in the United Kingdom to 75% in Norway. This feels a lot like the texting boom. Texting was huge throughout the world in the mid-to-late 1990s, everywhere except the US. Texting exploded in the US in the early 2000s when technology caught up with consumers. That seems to be where the US is now with electric vehicles.

There are currently 19 models of EVs available in the US, coming from 14 manufacturers. The nameplates are all familiar: Ford, Audi, Nissan, GM, Tesla, VW, Kia, Hyundai. There is a lack of variety with these vehicles. They are all either sedans or sports cars.

How Is Rivian Automotive Different?

Rivian differs from the pack in two areas. First, Rivian is building electric vans, SUVs, and trucks for the public and that are customized for businesses, such as Amazon, and public services, such as police departments and other first responders. The Rivian R1T pickup truck and R1S SUV have designs available, combined with a patent application, that would make each model ideal for law enforcement. The patent application is for a seat design that would provide first responders with ease of movement while wearing the gear necessary for their duties.

The second area of difference for Rivian involves Amazon. Rivian Automotive has an agreement with Amazon to deliver 10,000 delivery vans by the end of 2022 and 100,000 vans by 2030. Rivian has already delivered vans to Amazon, which uses them to deliver packages across the US.

Who Is Rivian Automotive Today?

Rivian was founded in 2009 by Robert Scaringe, an MIT graduate with a doctorate in mechanical engineering. The company is headquartered in Irvine, California, with six other Illinois, Michigan, California, and England locations. The company focused on autonomous and semi-autonomous electric vehicles and a wide range of related products. Rivian acquired the former Mitsubishi Motors manufacturing plant in Normal, Illinois in January 2017. This was a giant step for the start-up; unlike other EV start-ups, Rivian did not have to build a plant from scratch. This is what will allow Rivian to go public with vehicles already on the road.

Rivian's IPO for late 2021 is a foregone conclusion. The fact that is it already delivering vehicles coupled with its impressive list of investors makes Rivian a heavily anticipated IPO.