Fallout from the COVID-19 pandemic, overwhelmed law enforcement, and deteriorating public safety.
Firm has hired 2,000 staff in a matter of months in Wiltshire town, with ripple effect on other businesses
While that alone makes it one of the richest debuts ever, what's truly unique about the electric vehicle specialist is that the company has no material revenue to speak of. With production and deliveries just starting to ramp up, Rivian's valuation north of $100 billion requires a leap of faith from investors. Electric vehicle stocks -- including Tesla (Nasdaq: TSLA), Lucid, and Nio -- have scored rich valuations almost across the board, a sign that investors think that the EV sector will be much more profitable than the traditional auto sector is.