Author: Feng Difan, editor in charge: Sheng Yuan
Rivian founder and CEO Scarlinger said: “Our excitement for the business and the excitement of investors for the business precisely reflect the scale of the (industry) opportunity.”
On the second day of the IPO, the electric car manufacturer Rivian has a market value of 100 billion U.S. dollars, surpassing the traditional industry giants Ford andGeneral Motors。
Wall Street’s enthusiasm for electric vehicles is unabated. Recently, at the United Nations Climate Change Conference in Glasgow (COP26) negotiations, more than 100 governments, states, cities and major companies signed a “Declaration on Accelerating the Transition to Zero Emission Vehicles and Trucks.” (Hereinafter referred to as the “Declaration”), promised to end the sales of internal combustion engine vehicles in major markets by 2035 and on a global scale by 2040.
Will the spring of electric vehicles accelerate?
Is the spring of American electric cars coming?
Rivian, the electric car manufacturerNasdaqThe soaring stock price at the time of its debut seems to make people see the spring of electric vehicles in the United States. On the 10th, on the first day of Rivian’s listing, the stock price rose by 53%, and then gave up some of the gains to close at $100.73, an increase of 29.14%. On the 11th, Rivian’s stock price continued to soar, closing at $122.99, and its market value reached $104.8 billion, which has surpassed Ford ($77.4 billion) and General Motors ($86.05 billion).
Rivian founder and CEO RJ Scaringe said: “Our excitement about the business and investors’ excitement about the business precisely reflect the scale of the opportunity (industry).”
“In the next 10 to 15 years, there will be more than 1 billion cars on our planet that need to be replaced with electric cars,” he said.
The market’s reaction highlighted the high expectations for Rivian. The company lost nearly $1 billion in the first half of this year, and it is estimated that it may lose another $1.28 billion in the third quarter.
Most of Rivian’s IPO proceeds will be used to increase the production capacity of its Illinois plant and purchase future new facilities.
Although the pursuit of the market reflects the global optimism about the development trend of the electric vehicle industry, in the real American society, if there is a lack of relevant charging facilities and grid supporting facilities, consumers may not buy electric vehicles.
After the Biden administration took office, it has passed a series of bills conducive to the production and sales of electric vehicles. In August, US President Biden signed an executive order,It is proposed that by 2030, the United States will achieve the goal of 50% of the total sales of new vehicles in the United States.
At that time, the three major U.S. automakers, Ford, General Motors and Stalante Motors all issued statements expressing their support for this initiative. According to the International Energy Agency (IEA) data, electric vehicle sales accounted for only about 2% of U.S. car sales. .
In an infrastructure bill just passed in November, the Biden administration plans to invest $7.5 billion to build new electric vehicle charging stations across the United States, and at the same time invest $65 billion to upgrade the nation’s power grid facilities.
Climate change negotiations force auto industry reform
The United States currently lags behind China and the European market in the global electric vehicle market. According to IEA data, in the global electric vehicle market, China, the United States and Europe account for 44%, 17% and 31% respectively.
In addition to commercial interests, due to the huge amount of greenhouse gas emissions in the transportation sector, although there is no direct legal constraint within the framework of the United Nations, it is imperative for the industry to reduce emissions, which is also forcing the development of the electric vehicle market.
The transportation sector usually refers to the three major areas of road vehicles, shipping and shipping. What needs to be pointed out is that in the current UN COP negotiations, there is no need to include the emission sub-items of the transportation sector into the independent contributions of countries, and these can be left to countries to make their own arrangements.
According to data from the Intergovernmental Panel on Climate Change (IPCC), greenhouse gas emissions from the transportation sector account for about a quarter of global emissions.
Take the United States as an example. Data from the U.S. Environmental Protection Agency shows that the transportation sector’s greenhouse gas emissions account for 29% of the country’s total emissions, surpassing the emissions of any other sector.
Among the three major areas of road vehicles, shipping and shipping, road vehicles account for the most serious emissions. IPCC data shows that since the 1970s, emissions from the transportation sector have more than doubled, and about 80% of them are caused by road vehicles, whose operation is almost entirely dependent on fossil fuels.
One of the most mature ways to solve road vehicle emissions is the transition to electric vehicles. According to IEA data, there are currently more than 10 million electric vehicles on the road in the world, of which more than 3 million are in China.
In the above-mentioned “Declaration”, 23 countries including the United Kingdom, Sweden, Canada, and Ireland pledged to strive to achieve zero emissions from all new cars and trucks by 2040 or earlier.
At the same time, nine emerging markets and developing countries, including India, Turkey, Uruguay, and Mexico, pledged to accelerate the popularization and adoption of zero-emission vehicles.
Car companies that have signed this “Declaration” include Ford, Mercedes-Benz, General Motors, Volvo, Jaguar Land Rover, Tata, etc. They pledged to work hard to fully sell zero-emissions new cars and trucks in the world’s leading markets by 2035 or earlier.UberWaiting for the travel platform has also made a commitment to adopt zero-emission vehicles as soon as possible.
However, it should be pointed out that many large car companies are cautious about this Declaration. For example, Toyota, Volkswagen, Hyundai and other car companies have not signed the pledge.
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