Wall Street’s biggest institutional investors are betting Rivian will be the next big player in a Tesla-dominated industry., when there is mounting pressure on automakers in China and Europe to eliminate vehicle emissions.
Rivian IPO comes amid UN climate summit, where automakers, airlines and governments unveiled a series of promises to reduce greenhouse gas emissions in the world of transportation.
The automaker, in fact, invested heavily to increase production, by duplicate manufacturing of its exclusive all-electric R1T pickup truck, which was released in September. Additionally, the company, which is headquartered in Irvine in California, plans to build at least one million vehicles a year by the end of the decadesaid its chief executive.
Founded in 2009 as Mainstream Motors by RJ Scaringe, the company was renamed Rivian in 2011, a name derived from “Indian River” in Florida, a hangout for Scaringe on a rowboat when he was young.
Source From: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
