Shares in Rivian Automotive are set to trade publicly on Wednesday, and the world should get a better idea of just how excited investors are about the electric vehicle market.Ahead of the start of trading, Rivian shares priced at $78, which gives the company an estimated market value of $66.5bn. It’s a noteworthy figure, given that Rivian has so far delivered about 150 of its electric pick-up trucks to customers, mostly employees, and lost $1bn in the first six months of this year. The valuation is up there with established automakers such as Honda ($53bn) and Ford ($80bn), which sell millions of cars worldwide each year.Rivian has some high-profile corporate backers: Ford held a 13 percent stake in Rivian coming into the offering, and Amazon had a 20 percent stake.
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