The shares of electric vehicle startup RivianThursday’s gains continued, with about 10% of the increase in one-day after it was announced. public market debut

The AmazonAnd FordFord and Ford have been surpassed by an ally-backed firm. General MotorsBased on market capital, the company was valued at $94 billion. It’s still far from reality. Tesla’sMarket cap greater than $1 trillion

This valuation shows that Amazon’s 20% stake is worth more than $18billion and Ford’s 12% stake stands at over $11billion.

Rivian doesn’t yet have a business model established and is expecting to only make $1 million revenue in the third quarter. The high price is particularly shocking. According to Rivian, the company stated that it had received a “Review of its…” prospectusIt expects to make losses of up to $1.28 trillion during the quarter.

Rivian was able to beat its rivals on the market by offering a fully-electric pickup, however it is yet to manufacture large quantities of its cars.

Amazon has ordered 100,000 Rivian vehicles to join its delivery fleet. Amazon plans to use 10,000 Rivian vehicles for Amazon package delivery by the end of next year.

This report was produced by Annie Palmer, Lora Kolodny, and CNBC.

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