EV company Rivian files for IPO

melissa we have the filing from rivian for an initial public offering the importance of this cannot be understated or overstayed i should say importance because rivien is when you look at the electric vehicle startup it is considered to be the one company that potentially could grow from idea phase all the way through to being a large automaker at least as large as potentially what tesla is looking at now nobody's saying that's actually going to happen but they have a number of uh strategic investors from amazon to ford uh and rj skyring who is the ceo founder of rivian and the ceo is widely viewed within the auto industry as really one of the visionaries in terms of the potential for uh electric vehicles so this ipo filing long expected it uh it has now happened we don't have other details in terms of uh exactly what's going to be coming out through the ipo uh but this has been expected and it has now been filed and now we get to see uh what a rivien can do as a publicly traded company once this is completed yeah we get to see some more information about the company phil and i'm wondering from your standpoint what's the biggest question you think investors and analysts would have at this point when it comes to rivien really the size of the market potentially beyond we know that they are developing building they've already started working on uh building electric delivery vans for amazon uh and a lot of people say well that's great that's your your big backer there and it should do well look they have a couple of models coming out the r1t which is a an electric truck they also have the r1s which is an electric suv uh both of them uh the people that i've talked with who have seen uh early version that the r1t uh give it very high marks and we will see first deliveries of those uh coming up later this year so i think the big question is going to be okay what do you see happening beyond the amazon customer relationship and that's when you talk about the r1t and the r1s and deliveries to the public all right phil thanks phil lebeau with that news that rivian has filed for an ipo um micah i'm wondering you know is this the case we had a screen up of of different ev makers or different companies that are trying to be ev makers um is this a case where where tesla will be sort of the the register um the fun source of funds for ribbon arivian investment uh i don't think it would have to be necessarily we've seen a little bit of appreciation first of all in the big u.s oems in in gm and ford i'm kind of hoping as as a ford backer that that doesn't necessarily happen but you know tesla has a lot more going on than than just vehicles and in terms of the size of the market you know phil was just talking for example about amazon delivery vans the vehicle market for electronic vehicles in the united states is as big as the vehicle market itself frankly because i think we can all agree that whether it is a commercial vehicle an suv a sports car whatever chances are within the next decade they're all going to be electric and it's a big market opportunity but tesla's market opportunity is a little more than just the things with wheels on them you

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Length: 3min 55sec (235 seconds)

Published: Fri Oct 01 2021