FILE PHOTO: A Rivian R1T pickup, the Amazon-backed electric vehicle (EV) maker, is driven outside the Nasdaq Market site during the company’s IPO in Times Square in New York City, U.S., November 10, 2021. REUTERS/Brendan McDermid
LONDON: A monster pay package for Rivian Inc founder R J Scaringe lies beneath the hood of the electric vehicle (EV)-maker’s debut on the public markets.
The Irvine, California-based automaker, which began deliveries of electric pickup trucks only weeks ago, rose 29% in its trading debut Wednesday to close at US$100.73 (RM419.04) per share, valuing Scaringe’s 1.7% interest at US$1.2bil (RM4.99bil).
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