Electric truck maker Rivian zooms to $90B market value
![<i></i><br/>](https://abc17news.b-cdn.net/abc17news.com/2021/06/kmiz-biz-and-tech.png)
By MATT OTT
AP Business Writer
SILVER SPRING, Md. (AP) — Shares of Rivian Automotive jumped in their debut Wednesday, rising as much as 53% as investors look for the next big winner in the electric vehicle market. The opening trade of $106.75 gave Rivian a market value of about $91 billion, greater than that of Ford and General Motors. That’s noteworthy because Rivian has so far delivered about 150 of its electric pickup trucks to customers, mostly employees, whereas Ford and GM sell millions of cars globally each year. Rivian is the latest in what’s becoming a long line of companies trying to carve out some of Tesla’s dominant market share in electric vehicles.