Last week, Rivian launched the most successful IPO in the automotive industry.
With a market value of $ 120 billion, Rivian is valued more expensively than Ford or other traditional car manufacturers and takes 4th place in the ranking of the most valuable automobile manufacturers.
The IPO raised Rivian $ 10 billion and is thus well equipped to compete with Tesla.
But Tesla tries to be one step ahead.
This was confirmed by Quebec Finance Minister Pierre Fitzgibbon.
Accordingly, Tesla wants to invest around USD 2 billion in the region to secure lithium and other raw materials for the construction of car batteries.
For Stéphane Pascalon, President of Club Tesla Quebec, the news of the minister’s talks with Elon Musk’s company bodes well.
The whole region could benefit from this and create numerous jobs in the next few years.
One possible area could be the Nemaska Lithium mines which are partly owned by the Quebec government.
But Vision Lithium Inc. (TSXV: VLI) (OTCQB: ABEPF) is currently being speculated because Nemaska Lithium also holds shares in this company.