Rivian wins the electric pickup truck race as first vehicle rolls off Illinois assembly line
The cofounder and CEO of Rivian, RJ Scaringe, tweeted out a picture Tuesday afternoon of the company's first customer vehicle driving off the assembly line at Rivian's Illinois plant.The electric pickup scene will soon get more competitive. GM is expected to release its Hummer EV pickup this fall, followed by fellow startup Lordstown Motors , and then Ford. Tesla has delayed its cybertruck deliveries to late 2022.The truck is marketed towards affluent consumers, with a price tag of roughly $73,000. An SUV model and Amazon delivery vans are also in the works at Rivian.Rivian is seeking an IPO at a reported valuation of $80B, higher than the market caps of several well-known automakers including Ford and GM.