Technology

Rivian, an American automaker specializing in electric pickup trucks, sport utility vehicles and vans, announced Tuesday it had raised $11.9 billion (roughly Rs. 88,250 crores) in its Wall Street debut.

Backed by Amazon and Detroit automaker Ford, Rivian set its IPO price at $78 (roughly Rs. 5,800) per share, according to a press release, and will issue 153 million new shares on Wednesday, up from the 135 million initially planned, due to high demand from investors.

This represents a valuation of $67.9 billion (roughly Rs. 5,04,072 crore) if stock options and other convertible shares are not taken into account.

• Rivian Boosts IPO Price Range, Aims for $65 Billion Valuation

The amount is well above what the company expected in early November when it proposed a range of between $57 (roughly Rs. 4,200) and $62 (roughly Rs. 4,600) per share.

Though the start-up has just taken its first vehicles off the assembly line, it is worth almost as much as Ford, which has a valuation of $80 billion (roughly Rs. 5,93,910 crore) and close to the $85 billion (roughly Rs. 6,31,132 crore) valuation of General Motors, guaranteeing it a splashy entry on the Nasdaq with the ticker symbol RIVN.

It announced its intention to go public in August and delivered its first pickup, the R1T, in September, with plans to debut its R1S SUV in December.

• Amazon-Backed EV Maker Rivian Files for IPO

As of late October, it had an order backlog of 55,400 R1Ts and R1Ss that it expects to deliver by the end of 2023. Prices for the electric trucks and sport utility vehicles start from around $70,000 (roughly Rs. 51.98 lakh).

Rivian also plans to deliver 100,000 vans to Amazon by 2030. The e-commerce giant has a stake of $3.8 billion (roughly Rs. 28,219 crore) in Rivian’s preferable stock.

The company is taking advantage of investor enthusiasm for the electric vehicle sector, where star performer Tesla recently surpassed $1 trillion (roughly Rs. 74,26,236 crore) market capitalization.

• EV Startups Hunt for Low-Cost Roads to Mass Production

The next Tesla? Rivian was founded in 2009 by Robert Scaringe, a car enthusiast, who, after graduating from college, wanted to focus on less polluting forms of transportation rather than the traditional automobile.

After initially considering developing a sports car, he shifted towards larger vehicles in 2012.

The company’s backers often view it as the new Tesla, but Edmunds executive director of insights Jessica Caldwell said the comparison is not necessarily warranted.

While Tesla released its first car “when no one else really cared about electric vehicles,” Rivian “is coming out in a market that is more saturated,” Caldwell told AFP.

“They’re not going to catch anyone by surprise,” she added.

Ford has announced a $30 billion (roughly Rs. 2,22,794 crore) investment in electric vehicle production in a bid to position itself to lead the United States’ shift away from climate-damaging fossil fuels

The company said it will build four new plants to produce electric vehicles and batteries that will create 11,000 new jobs by 2025, and Caldwell noted it will debut a new, cheaper electric pickup model in the coming months, the F150 Lightning.

Start-ups like Faraday and Fisker are also developing their own electric SUVs.

But considering the soaring success that is the Elon Musk-helmed Tesla, Caldwell conceded that traders can justify their enthusiasm for the latest electric vehicle maker on Wall Street.

“All the investors kind of want to be a part of the next company that could show as much value as Tesla and some people think that Rivian is that company,” she said.

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Is JioPhone Next the 4G phone for everyone that Reliance promises? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

NASA’s Ingenuity Mars helicopter has soared through the Red Planet’s skies for the 15th time. The chopper, which arrived on Mars attached to the belly of the Perseverance rover, landed within the targeted zone on the Martian surface, said NASA’s Jet Propulsion Laboratory (JPL), which manages the Ingenuity mission. Initially, when NASA was making the chopper, the agency was not sure whether it would be able to fly at all on the cold Mars. It had originally planned for only five flights in total. In a tweet, JPL said Ingenuity flew for 128.8 seconds and “opportunistically took” some images of interest to scientists.

The officials were still processing the images and other data. Once that is processed, it would be clear what distance the chopper covered during its 15th flight.

Ingenuity was designed to fly for up to 90 seconds and travel for almost 980 feet (300m) at a time. It can gain about 10–15 feet (3–4.5 metres) altitude. The rotorcraft flies on its own, with minimal commands from Earth sent in advance, according to NASA.

After being launched from the Earth in July 2020, Ingenuity and Perseverance landed on Mars on February 18 this year, in the targeted zone in the Jezero Crater, a dried-up bed of an ancient lake. According to scientists, the lake may have hosted an ecosystem of Martian microbes over 3.5 billion years ago. They hope the crater may still have deposits that may throw light on the life that once possibly existed there.

• NASA’s Ingenuity Went on a Wild Ride During Its 6th Flight — Find Out Why

Ingenuity lifted off Mars’ surface for the first time on April 19 and successfully completed a controlled flight.

• How Did Perseverance Pick Its Mars Landing Spot? NASA Engineer Explains

Is JioPhone Next the 4G phone for everyone that Reliance promises? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Fitbit is rolling out new updates for its app and wearables. The Google-owned company is adding a new health metric called the Daily Readiness Score on the Fitbit app for its latest smartwatches and trackers. The feature calculates users’ willingness for workouts and suggests what they should be doing on a given day based on the heart rate, sleep, and activity. The Fitbit Charge 5 fitness tracker is also getting an on-device electrocardiogram (ECG) app. Additionally, Fitbit users in India can access a new blood glucose logging tool in the Fitbit app.

Fitbit’s Daily Readiness Score was announced in August this year alongside Fitbit Charge 5. The Daily Readiness Score works based on inputs from the user’s Fitbit device. It will monitor activity, heart rate variability, and recent sleep patterns to tell users whether they should focus on recovery or do an intense workout on a given day. Users will get a personalised score each morning with details on what impacted the scores, along with suggestions such as a recommended activity level.

Daily Readiness Score is only accessible to Fitbit Premium users. It is available for Fitbit Charge 5, Sense, Fitbit Versa 3, Fitbit Versa 2, Fitbit Luxe, or Fitbit Inspire 2. However, it is important to note that the feature requires wearing the fitness band throughout the day. Fitbit Sense and Fitbit Versa 3 users will be able to access their scores directly on their wrist.

• Fitbit Sense, Fitbit Versa 3 Get Status Indicators With New Update

Fitbit has also unveiled an electrocardiogram (ECG) app for Fitbit Charge 5 to help users assess heart rhythm on the wearable itself. While the ECG feature was not bundled with the wearable when it was launched in August, the company has now added it via an update. Fitbit Charge 5 users can take the reading by putting their fingers on the stainless steel panels on each side of the Charge 5 for 30 seconds.

Additionally, targeting diabetes patients in India, Fitbit has added Blood Glucose Logging as well. Premium users can check their blood glucose levels directly in the Fitbit app on Android and iOS. They will also get reminders about other health metrics such as physical activity, sleep, and nutrition. Premium Fitbit users can add this feature to the Today screen by going to the Fitbit app and clicking on Discover > Health & Fitness Stats today and adding Blood Glucose to today. Apart from India, Blood Glucose logging is live for users in Australia, Canada, France, Germany, Hong Kong, Ireland, New Zealand, Singapore, Spain, the UK, and the US.

Fitbit said it is working on adding new Fitbit audio and video workouts for Premium members. At present, the Fitbit Premium subscription costs $9.99 (roughly Rs. 740) per month.

• Fitbit Sense, Fitbit Versa 3 Getting ‘Snore & Noise Detect’ Feature

Everyone knows that the online world, despite the many opportunities it has opened for us, has also paved the path for so much deception and lies. People usually do not commit their precious time and money to online resources for fear that they would fall into the same trap.

Many FIFA lovers may be genuinely interested in buying coins to advance their gaming experience, but are afraid to because they feel they might get little or no value for their worry. If you are in this category as well, not to worry! All your worry ends when you log on to www.igvault.com/FIFA-20-Coins.

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Your doubts have been cleared? Thought as much.

Are you looking into investing in a new tablet for your project?  Well, a tablet allows you to watch videos and send emails as well while handling your school assignments. Selecting the right brand with viable specifications can be a daunting task. That’s why you need to master the tips for choosing a tablet. In this article, you’ll learn what it takes to select the right Raspberry Pi display. 

1. Consider Your Needs And Requirements

If you are a business professional with extensive entrepreneurial needs, you should analyze the demand of your clients. Find out if the tablet will primarily be for the business, school, or home-based projects. Will it be for personal use? Your answer will determine the specifications to choose from. A good tablet should have specifications that can help you to gain access to different online trading platforms. 

2. Take A Look At What You’re Currently Using 

When purchasing a work tablet, the choice you’ll make will be primarily affected by the operating system. Tablets have three different OS, namely Apple for iOS, Google, for Android, and Microsoft for Windows. As such, your choice of selection will be based on different factors, including the extent of your daily tasks.

3. Weigh The Advantages And Disadvantages of Android

Like earlier discussed, tablets have different operating systems. Google Android is one of them. It is the most prominent mobile operating system in the sector of technology. Therefore, it is preferred by many gadget manufacturers. Over the years, there have been significant improvements. You should consider going for this option.

4. You Can Weigh The Pros Of Choosing Windows

Although many tablets don’t use Windows, it can be an excellent option, especially if you are involved in a business that requires Office Microsoft productions. Windows is the primary operating system in most mobile phones. Not only is it fast but profoundly reliable.

5. Compare Features

Tablets have different features. Immediately you’ve decided to settle for a particular OS, your list of selection will begin to narrow down into what you can manage. Do you like the screen of the device you’re about to purchase? Is the power capacity good enough for you to be able to handle your projects? Those are some of the questions you should ask before buying that tablet.

Do You Think That Portability One of Your Priorities? 

Portable devices are pretty easy to carry. When it comes to purchasing the right tablet, there are various choices, including a standard tablet as well as a convertible one. Stand-alone tablets are pretty easy to carry. Convertibles are slightly heavy. 

Take-Home If you’re currently looking to buy a tablet, the initial step is to understand the features of a tablet. You also need to consider your needs and decide on various priorities. Immediately you’ve gone through the models; you’ll settle on the one that suits your needs.