Rivian Prepares IPO, Seeking $80 Billion Valuation
For a while now, followers, fans, and stock market speculators have been keeping their eyes on Rivian. The question on everyone’s minds, aside from whether the R1T is actually going to deliver on its promises or not, is whether the company would go public. Now we finally have an answer: Rivian released a statement this week that it has submitted its S-1 registration to the Securities and Exchange Commission (SEC). © Manufacturer Rivian R1T and R1S 20 © Manufacturer The initial public offering is expected to take place once the SEC is done with its review process.
of the stock market candidate Rivian and the electric automatic Tesla provide a legal break exchange. After Tesla had filed a lawsuit against the competitors last year, the allegations were now tightened again. © Provided by Finanzen.net Toru Yamanaka / AFP / Getty Images
• Tesla sued Rivian 14 months ago
• Action Exposed
• Has Rivian Battery Technology Stolen?
About 14 months ago, Electroautobauer Tesla has formulated serious accusations against the US competitor Rivian and sued it. Now the situation seems to escalate.
Tesla Wide Law of
In the summer of last year, Elon Musk Group had filed an action against Rivian . The allegations at that time: Rivian gave way to Tesla employees, in order to reach the possession of trade secrets of the US electric car new. Tesla spoke in his action by an "alerting scheme" for the departure of former Tesla employees. The procedure against Rivian was opened in front of a court in San Francisco and is also directed against four former employees of the company, which should have overflowed "documents with highly sensitive business secrets, confidential and protected technical information" to the direct competitor.
Tesla Full Self-Driving Beta 10 could roll out as early as next week
Tesla CEO Elon Musk tweets that Beta 10 of the company's driver-assistance software might only be a week away.The ambitiously named Tesla Full Self-Driving technology is not currently capable of actual full self-driving. Recently, at its AI Day event, Tesla demonstrated its progress towards full autonomy and gave us a peek behind the scenes at how it's working to speed up autonomous driving development. During the event, Musk was bullish that his tech would eventually be better than the average driver.
Rivian had always denied the allegations in the past, and called them "lush" and "in contradiction to Rivian's corporate culture, ethos and guidelines". However, 14 months later, Tesla not only renews the allegations against Rivian, but also extends them: According to Bloomberg, Tesla shows himself in a court file from the past month convinced that Rivian has received further staff since the opening of the action. In addition, the court's pace of Rivian did not stop to steal Teslas intellectual property. Specifically, the electric carconzers call a case for the summer, in which Rivian overflowed Tesla employees were "on fresh act caught", as they had stolen the nuclear technology for the next generation of Tesla batteries, "the most important element for each electric vehicle" , quotes Bloomberg from the court file.
Startup Faster than Tesla, Ford and GM: First electric pickup rolls from the band
while Tesla fans continue to wait for the cybertruck, a US startup has overtaken the electric car operator left and brought the first electric pickup to the market. © Provil by Finanzen.net Daniel Roland / AFP / Getty Images • R1T from Rivian rolls from the band • First electric SUV comes on the streets • Tesla, GM and Ford Overhauled pickups are in the United States to the street image .
Tesla points out that Rivian has not brought no vehicle to serial and production maturity so far: "After almost a dozen years without the production of a single commercial vehicle, Rivian is apparently under the pressure of investors and has strengthened his illegal efforts" , says Tesla.
court gives action expansion instead of
of the responsible judge at the Santa Clara Superior Court to have an extension of the lawsuit at the end of September, but at the same time emphasized that he would not want to be the correctness of Tesla's demands.
Rivian itself shows the allegations of themselves and, for his part, says Tesla since the application submitted in July 2020 only dragging evidence for his allegations. Neither had Tesla specifically set out which trade secrets Rivian should have stolen, nor did the car manufacturer can clear how these data differ from those who are already publicly known.
2022 GMC Hummer EV Prototype First Drive: Truck Yeah!
We got a first taste of what it is like behind the wheel of the 2022 GMC Hummer EV pickup truck and it is a mouthful. There is a lot of Hummer to move (about 9,000 pounds, in fact). Factor in the trio of electric motors, the 24-module battery pack, and all the bells and whistles included in the 2022 GMC Hummer EV Edition 1 launch model, and this is a massive truck. © Manufacturer,Povi Pullinen 2022 GMC Hummer EV Prototype First Drive: Truck Yeah!-featured General Motors relishes it. The Hummer has been reinvented as a battery electric vehicle under the GMC brand, but it remains true to its roots as a huge, off-road-capable beast.
Timing More than unfavorable
for Rivian comes this action for action at the time, because the company is in the hot phase for an IPO. The IPO is still planned 2021, Rivian hopes in connection with the stock market listing on a business valuation between $ 80 and $ 100 billion. Among the company's investors are prominent names such as the Fund of Starinvestor George Soros, Blackrock , the Internet Group Amazon and US Competitor Ford .
Rivian as a serious rival
Rivian is considered a serious competitor for Tesla on its home market. The startup had recently recently rolled the first electric pickup from the tape and thus overtakes both Tesla and General Motors and Ford. Tesla himself had recently shifted the start of production for his cybertruck to 2022 .
is unclear, however, how many Rivian pickups have already run from the band and whether the vehicle is actually already in serial production. Rivian had only spoken in this context that with the "Launch Edition" until January first pre-order to be operated.
Tesla Model S steering yoke is mandatory, says Musk .
The highly polarizing and kind of dumb steering setup on the recently redone Model S is all you get.Actually, you can't, Tesla CEO Elon Musk tweeted Friday, which was reported on by Electrek. That's right; there will be no option for a regular wheel, which we suspect is something that will turn off a lot of prospective customers. We also suspect that retrofitting one from an earlier S or X will be difficult, if not impossible.