Electric vehicle maker Rivian unveiled its long-awaited business plan after the company’s stock skyrocketed past a $100 billion valuation this week.
According to a press release, the company plans to sell a single truck to Jeff Bezos for $10 billion.
“The transaction will put our company at a very reasonable 10x price to sales ratio,” said company CFO Josh Rawler on CNBC.
Analysts quickly upgraded their Rivian price targets to the $300 range on the news.
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