[HN Gopher] Rivian S-1
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Rivian S-1
Author : gadnuk
Score : 29 points
Date : 2021-10-01 22:11 UTC (49 minutes ago)
(HTM) web link (www.sec.gov)
(TXT) w3m dump (www.sec.gov)
| Max-20 wrote:
| I invested this week in $GGPI/Polestar, they are a swedish EV
| company that already delivered 20k cars. Valuation is $20b or
| 1/4th of Rivian: https://www.datocms-
| assets.com/11286/1632735805-210927-poles...
| nemothekid wrote:
| Interesting, do you have any idea how that works. I thought
| Polestar was a brand/subsidiary of Volvo?
| [deleted]
| ardit33 wrote:
| No, owned by Geely, which owns Volvo as well. It is an
| attempt from Geely to gain foothold in the western markets
| without being associated as a chinese brand, but as a swedish
| one.
| chrisseaton wrote:
| I think it's more complicated than that - it was certainly
| owned entirely be Volvo as recently as 2015 and seems to
| share basically all engineering resources with Volvo. Seems
| like a funny attempt somewhere to make it seem like
| something other than Volvo - not sure why as Volvo has a
| reputation that's basically good enough already.
| ardit33 wrote:
| Polestar is Chinese owned brand(Geely), and their polestar cars
| are basically the Volvo xc40 ev version. (that's why their
| sedan is so tall/high ground clearance).
|
| They have yet to build a fully independent ev first platform.
| prescriptivist wrote:
| Scrolling through this I see a fair amount of references to
| subscription products as a long term growth strategy. HN
| sentiment seems pretty positive about Rivian so I'm curious what
| folks here feel about that aspect of their business?
|
| In particular if one juxtaposes that strategy against what I
| perceive to be a general anti John Deere sentiment around here
| vis-a-vie subscriptions and their always-on products.
| seattle_spring wrote:
| Exciting. Definitely a company I believe in.
| purple_ferret wrote:
| Why go public with no revenue whatsoever? Unable to raise money
| privately?
| TradingPlaces wrote:
| Most interesting tidbit:
|
| We expect that a significant portion of our initial revenue will
| be from one customer that is an affiliate of one of our principal
| stockholders.
|
| If we are unable to maintain this relationship, or if this
| customer purchases significantly fewer vehicles than we currently
| anticipate or none at all, our business, prospects, financial
| condition, results of operations and cash flows could be
| materially and adversely affected. To date, we have generated
| minimal revenue from the initial sales of our R1T vehicles and
| have not generated any revenue from the sales of our other
| vehicles. Our future success depends on us commencing commercial
| sales and attracting a large number of customers for our
| vehicles. In the near-term, however, we expect that a significant
| portion of our revenue will be from Amazon Logistics, Inc.
| ("Logistics"). Amazon is the parent company of both Logistics and
| Amazon.com NV Investment Holdings LLC ("NV Holdings"), which owns
| approximately % of our voting power as of , 2021. In February
| 2019, we entered into a commercial letter agreement with Amazon,
| and in September 2019, we entered into a related framework
| agreement with Logistics. We refer to these agreements, together
| with any work orders, purchase orders, related agreements and
| amendments thereunder or thereto, collectively, as the "EDV
| Agreement." Under the EDV Agreement, we and Logistics have agreed
| to collaborate to design, develop, manufacture, and supply EDVs
| and/or certain component parts and related services for use in
| Amazon's last mile delivery operations. We also have agreed under
| the EDV Agreement that until the fourth anniversary of when
| Logistics first receives EDVs (the "Initial Delivery Date"),
| whether or not Logistics purchases any EDVs from us, we will
| exclusively provide last mile delivery vehicles to Amazon, and
| from the fourth anniversary to the sixth anniversary of the
| Initial Delivery Date, Amazon will have a right of first refusal
| to purchase last mile delivery vehicles that we produce. Under
| the EDV Agreement, Logistics has the right to decide how many
| EDVs to purchase, which may be fewer than expected, or delay the
| delivery of such purchases. Certain factors outside of our
| control may influence Logistics' decision as to the number of
| EDVs to purchase from us and the timing of delivery, including
| Logistics' ability to deploy a charging infrastructure across
| their delivery stations.
| [deleted]
| rvz wrote:
| It's getting a bit crowed in the EV market-space and some EV
| makers like Rivian need to do more than their competitors
| otherwise they will end up being yet another EV maker, which now
| is not enough.
|
| The Amazon fleet partnership is very positive and several other
| deals in Europe too. However, Rivian just needs other ways to
| utilise its technology just like what NIO is currently doing in
| China.
|
| If Rivian follows that path and avoids being just a generic EV
| maker, then its stock is a straight buy in my books but I would
| hold for now and see what the competitors (especially Lucid
| Motors) are also doing first in October.
| epa wrote:
| $3B cash on hand and spending $1B per year. They will raise $5B
| runway.
| lemming wrote:
| I don't usually follow these things, but wouldn't it be unusual
| for a company to go public before actually releasing a product?
| dragontamer wrote:
| Moderna went public before it had any product available.
|
| EDIT: I'm not saying that Rivian would be as good a purchase as
| Moderna but... yeah. This sort of thing has become way more
| common in recent years. This is definitely the high-risk /
| high-reward area of investing: buying companies that you don't
| even know work or not yet (Moderna IPO'd in 2018, long before
| COVID19 even existed. There was pretty much no way to know it'd
| be the miracle drug to a non-existent disease just two years
| later)
|
| On the other hand: Moderna's success shows why the stock market
| is a magical thing. The money pumped into Moderna through the
| IPO allowed it get the money needed to build up its research
| facilities, in effect preparing for COVID19 even before the
| disease appeared.
|
| --------
|
| "Going public" means one thing and one thing only: the company
| wants money, and they think bonds (aka: borrowing money from a
| bank) is a bad value. Its still up to the investor to decide if
| giving money to the company is a worthwhile trade.
| Kkoala wrote:
| Also a sign that things might be overheating
| cptskippy wrote:
| How long does it take to go public? They're asking to go ASAP
| but is that days, weeks, months from now?
|
| They're shipping the founders edition preorders in November.
| postingawayonhn wrote:
| They started production about 2 weeks ago and have made a few
| deliveries to early employees.
| karanbhangui wrote:
| Yes, and also Rivian has production pickup truck and Amazon
| delivery vans....
| slownews45 wrote:
| Finally something that is not a straight scam (in my opinion).
|
| I know folks are saying Trevor and Nikola Motors have some sort
| of ground breaking hydrogen tech - but some of these other folks,
| despite their market caps, seem like so much trash and hype.
|
| Not sure these folks will turn out better, but at least there
| seems to be something of some substance here from folks with some
| experience.
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