The massive valuations of electric vehicle start-ups such as Rivian, which is making its public debut Wednesday on the Nasdaq at a higher stock price and market cap than General Motors, shows the legacy automaker is “so undervalued,” GM CEO Mary Barra said Wednesday.
Rivian’s stock is indicated to open at $125 a share, a 60% pop from its IPO price of $78 a share and implying a valuation of as much as $106.6 billion. That compares with GM at $60 a share and a market cap of $86.4 billion.
“What it highlights to me is the huge opportunity. General Motors is so undervalued,” Barra said Wednesday without specifically naming Rivian during The New York Times DealBook conference. “I see it as huge opportunity for General Motors to capture significant more value.”
When asked whether her competitors’ valuations make sense, Barra said she doesn’t view them that way.
“I look at every competitor as somebody that I respect. And that we have to be better, be faster, have vehicles that consumers want to have, solve the ownership equation,” she said. “So that’s the way I look at it. I would say if anything, it motivates me to work even harder.”
Rivian is viewed as one of the EV start-up frontrunners capable of taking on electric vehicle leader Tesla, as GM and other traditional automakers invest tens of billions of dollars in the emerging market segment.
GM was interested in investing in Rivian, but its largest crosstown rival, Ford Motor, ending up investing in the EV start-up instead. Ford, which owns about 12% of start-up, convinced Rivian CEO RJ Scaringe that Ford would be a better fit than GM, as recently reported by the Wall Street Journal.
GM has announced plans to invest $35 billion in electric and autonomous vehicles through 2025, as it targets outselling Tesla in domestic EV sales by then.
ivermectin 12 mg tablets for humans – tegretol online buy carbamazepine 200mg without prescription
absorica pills – buy decadron 0,5 mg generic oral zyvox 600 mg
amoxil online order – valsartan 80mg generic buy ipratropium pill
zithromax ca – order zithromax sale how to buy nebivolol
omnacortil 40mg pill – buy prednisolone 5mg pill buy generic prometrium online
order neurontin 600mg pill – itraconazole 100mg without prescription where can i buy itraconazole
order vibra-tabs – purchase glipizide without prescription cost glucotrol 5mg
order amoxiclav pills – ketoconazole canada purchase duloxetine sale
semaglutide 14mg sale – buy generic semaglutide 14 mg generic periactin
buy generic tizanidine – buy tizanidine tablets order hydrochlorothiazide 25mg generic
sildenafil us – sildenafil 50mg without prescription tadalafil medication
cenforce 100mg tablet – cenforce price order glucophage 500mg pills
order atorvastatin 20mg sale – norvasc 10mg pills zestril 2.5mg canada
prilosec 20mg pill – prilosec 20mg oral oral atenolol 100mg
medrol buy online – brand aristocort purchase aristocort
order desloratadine 5mg pill – dapoxetine 30mg oral order priligy pill
purchase cytotec – orlistat buy online buy diltiazem without a prescription
buy acyclovir online – order zovirax order rosuvastatin 20mg online cheap
inderal 20mg for sale – buy methotrexate 10mg pill methotrexate 10mg canada
warfarin 2mg for sale – coumadin 5mg tablet cozaar over the counter
esomeprazole 40mg tablet – buy generic imitrex for sale imitrex 25mg for sale
order levofloxacin 250mg pill – zantac order online ranitidine 150mg sale
mobic price – buy generic flomax online generic tamsulosin 0.2mg