NEW YORK—Rivian Automotive, a company that has delivered about 150 electric pickup trucks mostly to employees, has surpassed General Motors to become the nation’s second most valuable automaker.
The California company’s market valuation exceeded Ford’s in its first day a public company Wednesday. Its shares rose 10 percent at the opening bell Thursday pushing its valuation over $90 billion. That’s greater than Detroit’s GM, one of the biggest auto manufacturers in the world, which sold more than 2.5 million vehicles last year.
