[HN Gopher] Rivian S-1 ___________________________________________________________________ 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. ___________________________________________________________________ (page generated 2021-10-01 23:00 UTC)