UPDATED 1:13 PM EST: Revised IPO opening to 52% from 60%.
Rivian Automotive (NASDAQ: RIVN) is set for its market debut today with an implied valuation of over $93 billion thanks to an over 52% surge in share price from its IPO price of $78 per share.
The most recent developments for the Rivian market debut have set the company’s initial share price at $122 per share, which could put the company’s valuation at around $104 billion. This would make Rivian the sixth-most valuable automaker globally, displacing General Motors with a market cap of $85.92 billion. Rivian would be slightly behind Daimler, which holds a valuation of $109.12 billion.
Earlier this week, Rivian priced its shares for its IPO at between $75 and $78, above its previously expected range. The automaker expected to raise $11.9 billion, making it the second-largest tech IPO of all time, trailing Facebook who raised $16 billion in May 2012.
Rivian’s valuation may be driven by the sentiment trailing its name, which is backed by high-end and well-known investors like Amazon and Ford. During a disclosure earlier this month, Amazon disclosed its 20% ownership position in Rivian, which will produce 100,000 all-electric e-commerce delivery vehicles for the company. The Rivian delivery vans have already been tested in various cities across the United States. The 100,000 deliveries will take place by 2030, with 10,000 units operating by the end of 2022.
Rivian announces a $2.5B funding round, bringing grand total to $10.5B
Rivian is entering an EV market that is becoming more populated with every quarter. Both existing, legacy automotive companies and new, tech-focused startups are attempting to establish new EVs that will dethrone the undisputed king of the sector, Tesla. Rivian, while delivering around 150 units of its introductory R1T as of November 1, is the first automaker to introduce an all-electric pickup to the market. It will have tough competition to fend off as Ford will roll out the F-150 Lightning in Spring 2022. GMC’s Hummer EV is expected to begin deliveries later this year, and the widely-popular Tesla Cybertruck is set to start production in late 2022.
150,000 all-electric vehicles are expected to roll off Rivian’s production lines at its manufacturing facility in Normal, Illinois, annually. Along with the R1T and Amazon delivery vans, Rivian is developing the R1S, an all-electric SUV that could begin deliveries as soon as December, the company’s prospectus said. Rivian also stated that it has 9,500 employees, with over 3,400 of them working at the Normal Factory.
Rivian will have an uphill battle for the remainder of 2021, as it said in the October prospectus. Revenue has not been generated due to its process of ramping current vehicle production, which is costly and challenging to scale. Tesla CEO Elon Musk advised Rivian to ramp and solve production at its single Normal, Illinois factory for the time being. However, rumors of a manufacturing expansion known as “Project Terra” have swirled through the sector, with several U.S. states, including Texas, being discussed as a possible landing spot for Rivian’s second production plant.
Disclosure: Joey Klender is not a RIVN Shareholder.
I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.
Tesla has officially launched its first branded Supercharger just months after initiating a new program that allows third-party companies to brand their own charging piles.
The site opened in Land O’ Lakes, Florida, and features eight V4 Supercharging stalls offering up to 325 kW of charging speed. It appears it was purchased by a company called Suncoast Credit Union. This particular branch is located Northeast of Tampa, which is on the Gulf of Mexico.
It features graphics of Florida animals, like alligators:
Here’s a video of the graphics being installed on the Tesla Superchargers at this site: https://t.co/oIfEPNZjAH pic.twitter.com/ENWakZ2qT9
— TESLARATI (@Teslarati) November 20, 2025
Tesla launched this program back in September, and it basically was a way to expand its Supercharger presence and also allow companies to pay for the infrastructure. Tesla maintains it. When it announced the “Supercharger for Business,” it said:
“Purchase and install Superchargers at your business. Superchargers are compatible with all electric vehicles, bringing EV drivers to your business by offering convenient, reliable charging.”
The program does a few things. Initially, it expands EV charging infrastructure and makes charging solutions more readily available for drivers. It can also attract people to those businesses specifically.
Tesla launches new Supercharger program that business owners will love
The chargers can also be branded with any logo that the business chooses, which makes them more personalized and also acts as an advertisement.
The best part is that the customers do not have to maintain anything about the Supercharger. Tesla still takes care of it and resolves any issues:
“We treat your site like we treat our sites. By providing you with a full-service package that includes network operations, preventative maintenance, and driver support, we’re able to guarantee 97% uptime–the highest in the industry.”
It appears the Superchargers will also appear within the in-car nav during routing, so they’ll be publicly available to anyone who needs to use them. They are still available to all EVs that have worked with Tesla to utilize its infrastructure, and they are not restricted to people who are only visiting the business.
Tesla has revealed its Cybertruck light bar installation fix after a recall exposed a serious issue with the accessory.
Tesla and the National Highway Traffic Safety Administration (NHTSA) initiated a recall of 6,197 Cybertrucks back in October to resolve an issue with the Cybertruck light bar accessory. It was an issue with the adhesive that was provided by a Romanian company called Hella Romania S.R.L.
Tesla recalls 6,197 Cybertrucks for light bar adhesive issue
The issue was with the primer quality, as the recall report from the NHTSA had stated the light bar had “inadvertently attached to the windshield using the incorrect surface primer.”
Instead of trying to adhere the light bar to the Cybertruck with an adhesive, Tesla is now going to attach it with a bracketing system, which will physically mount it to the vehicle instead of relying on adhesive strips or glue.
Tesla outlines this in its new Service Bulletin, labeled SB-25-90-001, (spotted by Not a Tesla App) where it shows the light bar will be remounted more securely:
The entire process will take a few hours, but it can be completed by the Mobile Service techs, so if you have a Cybertruck that needs a light bar adjustment, it can be done without taking the vehicle to the Service Center for repair.
However, the repair will only happen if there is no delamination or damage present; then Tesla could “retrofit the service-installed optional off-road light bar accessory with a positive mechanical attachment.”
The company said it would repair the light bar at no charge to customers. The light bar issue was one that did not result in any accidents or injuries, according to the NHTSA’s report.
This was the third recall on Cybertruck this year, as one was highlighted in March for exterior trim panels detaching during operation. Another had to do with front parking lights being too bright, which was fixed with an Over-the-Air update last month.
News
Tesla is already expanding its Rental program aggressively
The program has already launched in a handful of locations, specifically, it has been confined to California for now. However, it does not seem like Tesla has any interest in keeping it restricted to the Golden State.
Tesla is looking to expand its Rental Program aggressively, just weeks after the program was first spotted on its Careers website.
Earlier this month, we reported on Tesla’s intention to launch a crazy new Rental program with cheap daily rates, which would give people in various locations the opportunity to borrow a vehicle in the company’s lineup with some outrageous perks.
Along with the cheap rates that start at about $60 per day, Tesla also provides free Full Self-Driving operation and free Supercharging for the duration of the rental. There are also no limits on mileage or charging, but the terms do not allow the renter to leave the state from which they are renting.
🚨🚨 If you look up details on the Tesla Rental program on Google, you’ll see a bunch of sites saying it’s because of decreasing demand 🤣 pic.twitter.com/WlSQrDJhMg
— TESLARATI (@Teslarati) November 10, 2025
The program has already launched in a handful of locations, specifically, it has been confined to California for now. However, it does not seem like Tesla has any interest in keeping it restricted to the Golden State.
Job postings from Tesla now show it is planning to launch the Rental program in at least three new states: Texas, Tennessee, and Massachusetts.
The jobs specifically are listed as a Rental Readiness Specialist, which lists the following job description:
“The Tesla Rental Program is looking for a Rental Readiness Specialist to work on one of the most progressive vehicle brands in the world. The Rental Readiness Specialist is a key contributor to the Tesla experience by coordinating the receipt of incoming new and used vehicle inventory. This position is responsible for fleet/lot management, movement of vehicles, vehicle readiness, rental invoicing, and customer hand-off. Candidates must have a high level of accountability, and personal satisfaction in doing a great job.”
It also says that those who take the position will have to charge and clean the cars, work with clients on scheduling pickups and drop-offs, and prepare the paperwork necessary to initiate the rental.
The establishment of a Rental program is big for Tesla because it not only gives people the opportunity to experience the vehicles, but it is also a new way to rent a car.
Just as the Tesla purchasing process is more streamlined and more efficient than the traditional car-buying experience, it seems this could be less painful and a new way to borrow a car for a trip instead of using your own.
Tesla launches its new branded Supercharger for Business with first active station
Tesla reveals its Cybertruck light bar installation fix
