December 2, 2021

How Tesla, Rivian & Co are shaking up the automobile thanks to the billions of Wall Street

Posted on Nov 25, 2021 at 6:24 amUpdated Nov 25, 2021, 7:11 AM

We only lend to the rich, as the saying goes, but in recent months, we have also lent a lot to manufacturers of electric cars. In the wake of Tesla, whose valuation exceeds that of all the traditional manufacturers combined, young American (like Lucid and Rivian) or Chinese (Nio, XPeng …) shoots are raising billions of dollars on the stock market with disconcerting ease, even before , in some cases, to have produced their first vehicle. A lavishness that traditional manufacturers look on with envy, and which provides a considerable advantage to new entrants.

Rivian’s example is edifying. Two weeks ago, this American manufacturer of electric pickups and vans was introduced to the Nasdaq, with a price that jumped 36% from the opening. It also collected 11.9 billion dollars (10.3 billion euros), while it will not deliver its first customers until December.

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