Rivian wants to offer four experiential hubs to its existing and prospective consumers that are meant to bring an appreciation of the outdoors to urban cities. This isn't an entirely new strategy as its rival Nio Inc (NYSE:NIO) named its showrooms "Nio Houses," as these club-style spaces are meant to bring potential and current customers together to socialize, work, and play. Its first house outside of China opened recently in Norway.

In August, Rivian has filed for a confidential IPO but it publicly submitted the paperwork two weeks ago. It is seeking to sell $100 million worth of shares on the NASDAQ under the ticker RIVN, hoping to raise $8 billion during its public debut expected to take place around Thanksgiving that would value the company at $80 billion. If successful, this will be one of the largest IPOs in an American market in the past decade, raising roughly the same amount as Uber Technologies Inc (NYSE:UBER) did in 2019.

Amazon.com, Inc. (NASDAQ:AMZN) and Ford Motor Co. (NYSE:F) are some of Rivian's backers. Through several investment rounds, it raised $10.5 billion since 2019, with the latest a $2.5 billion funding round in July, led by Amazon.com's Climate Pledge Fund and others.

Rivian managed to do something before the EV leader Tesla Inc (NASDAQ:TSLA) itself by launching its R1T, the world's first electric pickup truck, in September. Like its famous competitor, Rivian also wants to skip dealerships and sell directly to consumers. The SUV's launch, more precisely of the R1S, is scheduled for December. Meanwhile, Tesla's Cybertruck is proposed to enter production in 2023. Truck and the SUV sales are expected to pick up the pace in December and January.

All eyes are on the R1T that has hit the road in September, but this won't be the only electric pickup on the market for a very long time with peers such as Atlis Motor Vehicles and Hercules Electric Vehicles launching their own ambitious models next year, both of which will be powered with Worksport Ltd's (NASDAQ:WKSP) revolutionary TerraVis solar technology.

It lost $426 million in 2019. Last year, the loss widened to $1 billion. During the first half of 2021, it lost $994 million, or $9.84 a share, which is far worse than the $3.77 a share it lost over the first six months of 2020 as it has been spending most of its money on R&D whose expenses rose to $683 million during that time frame with total operating expenses that include both R&D and general expenses, reaching $990 million, up from $381 million in the year-ago period.

Illinois factory's capacity stands at 150,000 vehicles a year with plans to expand to 200,000 by 2023, along with plans to build additional domestic and international factories. The "vast majority" of stamping is done in house, along withbattery packs and drive-unit assembly as the Illinois plant is vertically integrated. Although it is now making a loss on zero revenue, it did deliver the world's first electric pickup However, the arrival of other electric pickups from 2022 and onwards will play a key role in its fate.

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