How to Trade Rivian (RIVN)

RJ Scaringe founded Mainstream Motors on June 4, 2009, in Rockledge, Florida, immediately after completing his PhD at MIT's Sloan Automotive Laboratory. Starting by converting a 1976 Porsche into an EV, the company was renamed Avera Motors, and finally Rivian Automotive in 2011, named after the Indian River in Florida.

Amazon invested $700M in 2019, Jeff Bezos's largest investment in an EV startup. Concurrently, Amazon ordered 100,000 electric delivery vehicles (EDVs)—the largest single commercial EV order in history. Ford also invested, providing Rivian with both massive capital and a guaranteed customer base.

Rivian IPO'd on NASDAQ on November 10, 2021, at $78/share, raising $13.5 billion. The stock surged to $170 within three days, reaching a valuation of $127 billion—larger than Ford at the time—despite having not yet delivered vehicles to customers. It was the largest IPO since Facebook in 2012.

Rivian faced a supply chain crisis, including parts and semiconductor shortages, causing production to fall far below targets. Ford sold off 90% of its stake. By the end of 2022, RIVN fell to around $20, an 88% drop from its ATH, resulting in significant losses for post-IPO investors.

Volkswagen Group invested $1 billion in Rivian in 2024 to form a joint venture sharing electrical architecture and software. Amazon remains the largest shareholder at 14.2%. Rivian is currently developing the R2 platform for mass-market EVs priced lower than the R1 series and is building a second factory in Georgia.