Plus: Michelin in Florida | Wednesday, November 10, 2021
| | | | | | | Presented By Amazon | | | | Axios PM | | By Mike Allen ·Nov 10, 2021 | | Good afternoon: Today's PM — edited by Justin Green — is 428 words, a 1.5-minute read. | | | | | | 1 big thing: Instant car giant | | A Rivian R1T electric pickup truck outside the Nasdaq MarketSite today in New York. Photo: Bing Guan/Bloomberg via Getty Images Electric vehicles startup Rivian just had the biggest IPO since Alibaba's in 2014. The big picture: Investors have funneled billions of dollars into electric vehicle companies, with the hope that one of these companies will break off a piece of Tesla's success, writes Axios Closer author Courtenay Brown. - That hasn't happened so far — and the environment is rough out there for automakers.
- CEO R.J. Scaringe told Bloomberg TV that "Rivian's biggest challenge is the 'health of the supply chain' as it ramps up production amid parts shortages."
Rivian, founded in 2009, just last month began delivering its first vehicles, notes Axios Pro Rata author Dan Primack. - It plans to have 1,000 on the road by year-end, and it reports tens of thousands of pre-orders that it hopes to fill by the end of 2023.
The bottom line: A win for Rivian is a win for Ford, whose 12% stake is now worth about $10 billion. - Fellow backer Amazon — which is set to receive Rivian-made vans — has a roughly 20% stake that's now worth $17 billion.
|     | | | | | | 2. Highest inflation in 3 decades |  Overall prices are up 6.2% from a year ago, the biggest annual increase in more than 30 years as inflation persists across sectors, Axios' Erin Doherty reports. The bottom line: "We expected inflation would get worse before it got better, but not this much worse," wrote Robert Frick, a corporate economist with Navy Federal Credit Union. | | | | | | | | A message from Amazon | | How Amazon's impact on employees goes beyond $15 an hour | | |  | | | | Amazon is committed to its employees' personal success — whether they're working there for a season or a career. Here's how: The company invests in employee career growth and offers regular, full-time employees benefits like health care on day one and fully paid family leave. Learn more. | | | | | | 3. Catch up quick | | James Armstrong, of the state crime lab, points to drone video he digitally enlarged during Kyle Rittenhouse's trial on Tuesday. Photo: Sean Krajacic/The Kenosha News via AP - The murder trial against Kyle Rittenhouse was thrown into jeopardy today when his lawyers asked for a mistrial over what appeared to be out-of-bounds questions asked of Rittenhouse by the chief prosecutor, AP reports.
- China vowed more aggressive steps on emissions in a joint declaration with the U.S. Go deeper.
- A former MMA fighter was sentenced to 41 months in prison for assaulting a police officer during the Jan. 6 Capitol riot. Go deeper.
| | | | | | | | 4. ✨ Michelin stars coming to Florida |  | | | Rocca in Tampa gets raves. Photo: Rocca via Facebook | | | | The Michelin Guide — known around the world for the rigor of its restaurant inspectors and the prestige of its stars — next year will begin a Florida edition covering Miami, Orlando and Tampa Bay. š® Selene San Felice of Axios Tampa Bay gives her picks for spots that could see stars. | | | | | | | | A message from Amazon | | Amazon expands fully paid education benefits for employees | | |  | | | | Amazon will fund full college tuition as well as high school diplomas, GEDs and English as a Second Language proficiency certifications for its front-line employees. More info: More than 750,000 employees are eligible including those who have been at the company for as little as three months. | | |  | | It'll help you deliver employee communications more effectively. | | | | | | Axios thanks our partners for supporting our newsletters. If you're interested in advertising, learn more here.
Sponsorship has no influence on editorial content. Axios, 3100 Clarendon Blvd, Suite 1300, Arlington VA 22201 | | | You received this email because you signed up for newsletters from Axios.
Change your preferences or unsubscribe here. | | | Was this email forwarded to you?
Sign up now to get Axios in your inbox. | | | | Follow Axios on social media:    | | | | | |
No comments:
Post a Comment