SILVER SPRING, Md. (AP) – Shares in Rivian Automotive are set to trade publicly and the world should get a better idea of just how hot investors are for the electric vehicle market. Rivian is the EV startup backed by Amazon and Ford. It raised at least $10.5 billion in its public offering to help it ramp up production of its trucks, vans and SUVs. It’s the latest in what’s becoming a long line of companies trying to carve out some of Tesla’s dominant market share. According to The Wall Street Journal, the offering of 135 million shares was priced at $78 per share, giving Rivian a market value of $77 billion on a fully diluted basis. That compares to Honda’s $53 billion and Ford’s $80 billion.
