By M. Goncalves
In a world where almost all companies are looking to become environment friendly, many businesses have developed initiatives for preserving the environment. Founded in 2009, Rivian is quickly becoming a pioneer for this vital cause, spreading its product from one end to the other in its country of origin; with its headquarters based in Irvine, California, while its main factory is in Detroit, Michigan. Established by Robert Scaringe, Rivian is an all-electric vehicle manufacturer, whose stock has recently risen tremendously, with the consensus becoming, find a way to make your product sustainable, or you will lose clients, something which Rivian has fully understood. With the world becoming more conscious of the damages of pollution, companies like Rivian are set to grow more than ever.
In this month, Rivian plans to launch the first 100% electric pick up truck, beating its competition in Tesla, GM, and Ford. The R1T, is being released with a price range of around 70,000-80,000 USD. Rivian is quickly making a name for itself as a top player in this industry, and from the looks of it, they are only going to grow more. J.P. Morgan analyst Ryan Brinkman stated in a report Rivian’s sales will top 55 billion USD by 2030, while also saying “Rivian’s caliber as an organization is made clear when considering it beat Tesla, Ford , and GM to market with the industry’s first battery electric pickup truck (and an excellent one at that),”
NASDAQ has shown that Rivian’s stock has increased 13.74% in the past month, following a 32.36% increase from November 12th to November 16th.
Rivian is rapidly ascending and making a name for itself. Many experts like Brinkman predict it’s on track to becoming a top tier company, based off its recent grand developments. There is no denying it, Rivian is quickly rising to the level of giants in its industry, it has shown that it has what it takes to be in the same conversation with brands like Tesla and Ford.