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“Amazon’s EV stock” is going public in an IPO next week…
And the automaker could be valued at over $55 billion!
Go here for urgent details on the top EV stocks to BUY NOW.
Amazon (NASDAQ: AMZN) currently owns 20% of the private EV automaker. And could earn billions of profits with the IPO.
Ford (NYSE: F) also has a 5% stake – valued at around $2.75 billion.
The new electric vehicle maker is developing trucks. The company aims to topple the conventional automakers in this area – much like Tesla Motors (NASDAQ: TSLA) did with cars.
The EV company is called Rivian Automotive (private).
Rivian is one of the hottest EV startups. And its IPO plans suggest it will raise more capital than any previous EV automaker.
The company just delivered its first EV trucks in October. Total production is expected to reach over 1,200 EVs.
Rivian is currently at 55,400 pre-orders.
Meanwhile, the company says its plant will be able to produce 150,000 EVs per year.
Amazon has also placed an order for 100,000 electric delivery vehicles by 2025. And this includes 10,000 vehicles that must be delivered next year.
Rivian will begin trading next week.
Go here for urgent details on the EV boom – and the Rivian IPO.
Rivian Automotive
NASDAQ: RIVN
Share Price: $57 – $62
Valuation: $55 – $60 billion
IPO Capital Raise: $7.7 – $9.6 billion
IPO Date: November 10
Existing Rivian investors are excited for the IPO.
Amazon and T. Rowe Price want to buy an extra $5 billion of Rivian shares – at the IPO price.
This indicates that these existing shareholders think the proposed IPO price is a bargain. Usually, early investors want to sell right after an IPO.
The IPO will make Rivian the second most valuable EV automaker.
The company will be worth 10-times more than Fisker (NYSE: FSR). And perhaps on par with Ferrari (NYSE: RACE) and Honda Motor Co. (NYSE: HMC).
EV stocks are taking off right now…
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Ian Wyatt