Electric vehicle maker Rivian debuted on Wall Street on Wednesday at a valuation of around $ 106 billion, more than Ford or General Motors.
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The valuation includes all the shares in circulation and stock options, with a title that gained Wednesday, a few minutes after its first listing, more than 40% compared to its introductory price, set Tuesday evening.
The introductory price higher than announced
The company, which only delivered its first vehicles in September, raised, with this IPO, some 11.9 billion dollars, the largest sum since 2014 and the arrival of the giant Chinese Alibaba.
Sign of the extraordinary demand for this newcomer to the electric automobile, which produces pick-ups, SUVs and soon delivery vans, the introductory price of 78 dollars was already significantly higher than the range initially announced, i.e. between 57 and 62 dollars.
After the meteoric rise of Tesla, which is now worth more than a thousand billion dollars on the stock market, Rivian is another illustration of investor appetite for the electric vehicle industry.