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2021-12-24

Sumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事早期押注电动汽车初创公司Rivian赢得大奖</blockquote>

Once-secretive automaker now worth almost 100 times its original value A Rivian R1T all-electric tru

Sumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事早期押注电动汽车初创公司Rivian赢得大奖</blockquote>

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{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":698135760,"tweetId":"698135760","gmtCreate":1640315728661,"gmtModify":1640316461693,"author":{"id":3572077804076143,"idStr":"3572077804076143","authorId":3572077804076143,"authorIdStr":"3572077804076143","name":"Yappy","avatar":"https://static.tigerbbs.com/ab4d89913ade03f15c782b99132ba22f","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":12,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":53,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Like</body></html>","htmlText":"<html><head></head><body>Like</body></html>","text":"Like","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/698135760","repostId":1163369412,"repostType":4,"repost":{"id":"1163369412","kind":"news","pubTimestamp":1640315341,"share":"https://www.laohu8.com/m/news/1163369412?lang=zh_CN&edition=full","pubTime":"2021-12-24 11:09","market":"us","language":"en","title":"Sumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事早期押注电动汽车初创公司Rivian赢得大奖</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1163369412","media":"Nikkei Asia","summary":"Once-secretive automaker now worth almost 100 times its original value\nA Rivian R1T all-electric tru","content":"Once-secretive automaker now worth almost 100 times its original value<blockquote>曾经神秘的汽车制造商现在的价值几乎是其原始价值的100倍</blockquote> <img src=\"https://static.tigerbbs.com/b7e054c0ad4260b9074fbdd6c0947731\" tg-width=\"1400\" tg-height=\"788\" width=\"100%\" height=\"auto\">A Rivian R1T all-electric truck in Times Square in New York on Nov. 10, the automaker's first day of trading. © AP<blockquote>11月10日，一辆Rivian R1T全电动卡车出现在纽约时代广场，这是该汽车制造商的第一天交易。©美联社</blockquote> TOKYO -- In the spring of 2017, a Saudi business associate made an intriguing proposal to Yoshito Miyazaki, an executive at Japanese trading house Sumitomo Corp., asking if he would like to invest in an interesting electric vehicle startup together.<blockquote>东京——2017年春天，一位沙特商业伙伴向日本贸易公司住友商事株式会社（Sumitomo Corp.）的高管宫崎义人（Yoshito Miyazaki）提出了一个有趣的提议，询问他是否愿意共同投资一家有趣的电动汽车初创公司。</blockquote> The target of the pitch was Rivian Automotive, which at the time was still operating in stealth mode with hardly any information to its name. The CEO of the outfit, R.J. Scaringe, maintained an especially low profile.<blockquote>此次推介的目标是Rivian汽车公司，该公司当时仍在秘密模式下运营，几乎没有任何有关其名称的信息。该公司的首席执行官R.J斯卡林奇保持着特别低调的姿态。</blockquote> What a difference four years make. Now Rivian's market capitalization hovers at about $100 billion following its debut on Nasdaq in November. Rivian's value has grown by a magnitude of nearly 100, and Sumitomo was one of the investors that got in on the ground floor.<blockquote>四年的变化真大。自11月在纳斯达克上市以来，Rivian的市值目前徘徊在1000亿美元左右。Rivian的价值增长了近100倍，住友商事是最早入股的投资者之一。</blockquote> The business associate, an executive at Saudi conglomerate Abdul Latif Jameel, had been visiting the U.S. when he met with Miyazaki, then the general manager of Sumitomo's Detroit office. Sumitomo and ALJ operate a joint-venture construction equipment distributor in Saudi Arabia, and the two companies were looking for other collaborative opportunities in the U.S.<blockquote>这位商业伙伴是沙特企业集团阿卜杜勒·拉蒂夫·贾米尔(Abdul Latif Jameel)的高管，当时他正在美国访问，会见了时任住友商事底特律办事处总经理的宫崎骏。住友商事和ALJ在沙特阿拉伯经营一家合资建筑设备分销商，两家公司正在美国寻找其他合作机会。</blockquote> It was then that Miyazaki heard Scaringe was going to make his first public appearance, at a town meeting hosted by the Original Equipment Suppliers Association at a venue not far from Detroit.<blockquote>就在那时，宫崎骏听说斯卡林奇将在离底特律不远的地方由原始设备供应商协会主办的城镇会议上首次公开露面。</blockquote> At the event, Scaringe made a passionate case for developing large EVs, a \"white space\" where competition was scarce. His plan was to roll out a sport utility vehicle and a pickup truck by approximately 2020. Rivian would leverage the new brand image to secure more funding, which would then be used to develop shared EVs and fully autonomous driving technology by 2023.<blockquote>在活动中，斯卡林奇对开发大型电动汽车提出了热情的理由，这是一个竞争很少的“空白”。他的计划是在2020年左右推出一款运动型多功能车和一款皮卡车。Rivian将利用新的品牌形象获得更多资金，然后在2023年前用于开发共享电动汽车和全自动驾驶技术。</blockquote> Many EV startups who bill themselves as the next Tesla pour their resources into developing sports cars. However, Scaringe demonstrated he was quick to pick up on shifting consumer tastes while maintaining a focus on next-generation technology.<blockquote>许多自称是下一个特斯拉的电动汽车初创公司将资源投入到开发跑车上。然而，斯卡林奇证明，他很快就能跟上不断变化的消费者口味，同时保持对下一代技术的关注。</blockquote> Miyazaki was floored by Scaringe's business model.<blockquote>宫崎骏被斯卡林奇的商业模式震惊了。</blockquote> \"Large-sized vehicles have a huge market in the U.S. because of their popularity, and I felt it was very rational since you could equip the vehicles with large-capacity batteries and extend driving ranges,\" said Miyazaki, who now heads Sumitomo's Beyond Mobility department.<blockquote>“大型车辆在美国拥有巨大的市场，因为它们很受欢迎，我觉得这是非常合理的，因为你可以为车辆配备大容量电池并延长行驶里程，”现任住友超越移动部门负责人的宫崎说。</blockquote> Miyazaki immediately launched a due diligence review of Rivian with Tatsuo Ishibashi, a subordinate who now heads the Detroit office. The team discovered the startup had taken the unusual step of spending $16 million buying an Illinois plant from Mitsubishi Motors in early 2017.<blockquote>宫崎骏立即与现任底特律办公室负责人的下属石桥达夫展开了对Rivian的尽职审查。该团队发现，这家初创公司采取了不同寻常的步骤，在2017年初斥资1600万美元从三菱汽车公司购买了伊利诺伊州的一家工厂。</blockquote> Mitsubishi Motors had originally invested 200 billion yen ($1.75 billion at current rates) in the assembly plant, which also handled engines, presswork and coating. The site has the capacity to turn out 250,000 vehicles a year.<blockquote>三菱汽车最初在该装配厂投资了2000亿日元（按当前价格计算为17.5亿美元），该装配厂还生产发动机、冲压和涂层。该工厂每年可生产25万辆汽车。</blockquote> \"This is a company that has a proper footing,\" Ishibashi thought of Rivian.<blockquote>“这是一家站稳脚跟的公司，”石桥想到了Rivian。</blockquote> When Miyazaki and Ishibashi began negotiating with Scaringe, they were drawn to his personality. When a Sumitomo executive visited from the Tokyo home office to tour Rivian, Scaringe discussed his business strategy, balancing logic with passion.<blockquote>当宫崎骏和石桥开始与斯卡林格谈判时，他们被他的个性所吸引。当住友商事的一位高管从东京都总部访问Rivian时，斯卡林奇讨论了他的商业战略，平衡了逻辑和激情。</blockquote> \"There may be times when a change in course is needed, but I felt we'd certainly arrive at solutions with Mr. Scaringe at the helm,\" said Miyazaki.<blockquote>宫崎骏说：“有时可能需要改变方针，但我觉得在斯卡林奇先生的领导下，我们肯定会找到解决方案。”</blockquote> Sumitomo decided to invest in Rivian in October 2017, and the transaction closed that December. The Japanese group became the automaker's second corporate investor after ALJ.<blockquote>住友商事于2017年10月决定投资Rivian，交易于当年12月完成。这家日本集团成为该汽车制造商继ALJ之后的第二家企业投资者。</blockquote> Ishibashi relocated to Rivian's Detroit headquarters at the end of October 2017. A&nbsp;year later, Amazon.com founder Jeff Bezos came to observe the startup. Negotiations between Amazon and Rivian proceeded smoothly, and a $700 million infusion was announced just four months later, making Amazon the largest investor. Amazon also apparently&nbsp;ordered&nbsp;100,000 all-electric delivery vehicles from Rivian.<blockquote>石桥于2017年10月底搬迁至Rivian底特律总部。一年后，亚马逊创始人杰夫·贝索斯前来观摩这家初创公司。亚马逊与Rivian的谈判进展顺利，仅4个月后就宣布注入7亿美元，使亚马逊成为最大的投资者。亚马逊显然还从Rivian订购了10万辆全电动送货车。</blockquote> After investing in Rivian, Sumitomo became an eager intermediary between the automaker and Japanese suppliers. But at the time, Tesla was experiencing problems with production, which caused players in the automotive supply chain to be wary of EV startups.<blockquote>在Rivian投资后，住友商事成为汽车制造商和日本供应商之间热切的中间人。但当时，特斯拉在生产方面遇到了问题，这导致汽车供应链中的参与者对电动汽车初创公司持谨慎态度。</blockquote> Japanese suppliers were particularly unwilling to move forward on contract negotiations. Ishibashi's team arranged for Scaringe to personally meet with executives from Denso, Aisin and Panasonic so that they could hear his business model.<blockquote>日本供应商尤其不愿意推进合同谈判。石桥的团队安排斯卡林格亲自会见电装、爱信和松下的高管，以便他们听到他的商业模式。</blockquote> Sumitomo also brokered discussions concerning post-mass production tie-ups. One automaker wanted to jointly use a charging system while a Japanese non-life insurance provider pitched a partnership for an insurance business, according to Sumitomo.<blockquote>住友商事还促成了有关量产后合作的讨论。住友商事表示，一家汽车制造商希望联合使用充电系统，而一家日本非人寿保险提供商则寻求合作开展保险业务。</blockquote> \"We're not planning to sell Rivian shares for the time being,\" said Ishibashi. \"As a shareholder, we intend to support [Rivian] in distribution and after-sales services outside the U.S. and take an active approach in our collaboration.\"<blockquote>“我们暂时不打算出售Rivian股票，”石桥说。“作为股东，我们打算支持[Rivian]在美国以外的分销和售后服务，并在我们的合作中采取积极的态度。”</blockquote> Rivian started delivering its R1T pickup this September, which sells for about $67,000. In its first quarterly report since the float, the company revealed that it made only $1 million in revenue in the July-September period. The net loss exceeded $1.2 billion.<blockquote>Rivian今年9月开始交付R1T皮卡，售价约为67,000美元。该公司在上市以来的第一份季度报告中透露，7月至9月期间的收入仅为100万美元。净亏损超过12亿美元。</blockquote> The semiconductor shortage this year limited production to about 1,000 vehicles. Rivian's next task is to develop an infrastructure for mass production.<blockquote>今年半导体短缺将产量限制在1000辆左右。Rivian的下一个任务是开发大规模生产的基础设施。</blockquote> On Dec. 16, the same day as the earnings report, Rivian announced it would build an additional assembly plant and expand the Illinois plant. The goal is to lift annual capacity to 600,000 units in 2024.<blockquote>12月16日，也就是财报发布的同一天，Rivian宣布将增建一座装配厂，并扩建伊利诺伊工厂。目标是到2024年将年产能提高到60万台。</blockquote> \"Manufacturing cars is really difficult,\" said Miyazaki. \"Moreover, I'd expect [Rivian] to face various barriers because it's a startup.\"<blockquote>“制造汽车确实很困难，”宫崎骏说。“此外，我预计[Rivian]将面临各种障碍，因为它是一家初创公司。”</blockquote> When Amazon invested in Rivian, the valuation of the startup was estimated at between $1 billion and $2 billion, giving it unicorn status. By the time the company ended its first day of trading on Nov. 10, its market capitalization stood at $85.9 billion. If a company with a valuation of $10 billion qualifies as a decacorn, then Rivian would be a superdecacorn.<blockquote>当亚马逊投资Rivian时，这家初创公司的估值估计在10亿至20亿美元之间，这使其获得了独角兽地位。截至11月10日该公司首日交易结束时，其市值为859亿美元。如果一家估值为100亿美元的公司有资格成为十角兽，那么Rivian将成为超级十角兽。</blockquote> Sumitomo had not disclosed its&nbsp;investment amount, so Rivian's valuation in late 2017 was unclear. But if Amazon's investment is used as a starting point, Rivian's enterprise value would have multiplied 40 to more than 80 times over.<blockquote>住友尚未披露其投资金额，因此Rivian在2017年底的估值尚不清楚。但如果以亚马逊的投资为起点，Rivian的企业价值将增长40至80倍以上。</blockquote> Amid the soaring fortunes, Sumitomo President Masayuki Hyodo is keeping a cool head.<blockquote>在财富飙升的情况下，住友商事社长兵藤雅之保持着冷静的头脑。</blockquote> \"Making money off investments in startups is not the role of a trading company,\" said Hyodo. \"Rivian is a company that is very important to our EV platform. I can't speak to whether or not we'll make additional investments, but there is potential for all forms of collaboration.\"<blockquote>“通过投资初创公司赚钱不是贸易公司的职责，”Hyodo说。“Rivian是一家对我们的电动汽车平台非常重要的公司。我不能说我们是否会进行额外投资，但各种形式的合作都有潜力。”</blockquote> Rivian's share price once approached $180 -- more than twice its original offer price of $78. Since then, its price has tumbled to about $100. This largely stems from an announcement in late November that Ford Motor and Rivian were scrapping plans to jointly develop EVs. Ford owns 12% of Rivian.<blockquote>Rivian股价一度逼近180美元——是其最初发行价78美元的两倍多。从那以后，它的价格跌至100美元左右。这很大程度上源于11月底福特汽车和Rivian宣布取消联合开发电动汽车的计划。福特拥有Rivian 12%的股份。</blockquote> American EV startups Nikola and Lordstown Motors were consumed by fraud scandals in 2020 and 2021, respectively. Their market caps fell to less than one sixth of their peak values. Although Sumitomo had the foresight to invest in Rivian early, the Japanese group's ability to further develop&nbsp;its close relationship with the startup will come under scrutiny.<blockquote>美国电动汽车初创公司Nikola和Lordstown Motors分别在2020年和2021年陷入欺诈丑闻。它们的市值跌至不到峰值的六分之一。尽管住友商事很早就有先见之明在Rivian投资，但这家日本集团进一步发展与这家初创公司密切关系的能力将受到审视。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事早期押注电动汽车初创公司Rivian赢得大奖</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事早期押注电动汽车初创公司Rivian赢得大奖</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nNikkei Asia2021-12-24 11:09\n\n</h4>\n</header>\n<article>\nOnce-secretive automaker now worth almost 100 times its original value<blockquote>曾经神秘的汽车制造商现在的价值几乎是其原始价值的100倍</blockquote> <img src=\"https://static.tigerbbs.com/b7e054c0ad4260b9074fbdd6c0947731\" tg-width=\"1400\" tg-height=\"788\" width=\"100%\" height=\"auto\">A Rivian R1T all-electric truck in Times Square in New York on Nov. 10, the automaker's first day of trading. © AP<blockquote>11月10日，一辆Rivian R1T全电动卡车出现在纽约时代广场，这是该汽车制造商的第一天交易。©美联社</blockquote> TOKYO -- In the spring of 2017, a Saudi business associate made an intriguing proposal to Yoshito Miyazaki, an executive at Japanese trading house Sumitomo Corp., asking if he would like to invest in an interesting electric vehicle startup together.<blockquote>东京——2017年春天，一位沙特商业伙伴向日本贸易公司住友商事株式会社（Sumitomo Corp.）的高管宫崎义人（Yoshito Miyazaki）提出了一个有趣的提议，询问他是否愿意共同投资一家有趣的电动汽车初创公司。</blockquote> The target of the pitch was Rivian Automotive, which at the time was still operating in stealth mode with hardly any information to its name. The CEO of the outfit, R.J. Scaringe, maintained an especially low profile.<blockquote>此次推介的目标是Rivian汽车公司，该公司当时仍在秘密模式下运营，几乎没有任何有关其名称的信息。该公司的首席执行官R.J斯卡林奇保持着特别低调的姿态。</blockquote> What a difference four years make. Now Rivian's market capitalization hovers at about $100 billion following its debut on Nasdaq in November. Rivian's value has grown by a magnitude of nearly 100, and Sumitomo was one of the investors that got in on the ground floor.<blockquote>四年的变化真大。自11月在纳斯达克上市以来，Rivian的市值目前徘徊在1000亿美元左右。Rivian的价值增长了近100倍，住友商事是最早入股的投资者之一。</blockquote> The business associate, an executive at Saudi conglomerate Abdul Latif Jameel, had been visiting the U.S. when he met with Miyazaki, then the general manager of Sumitomo's Detroit office. Sumitomo and ALJ operate a joint-venture construction equipment distributor in Saudi Arabia, and the two companies were looking for other collaborative opportunities in the U.S.<blockquote>这位商业伙伴是沙特企业集团阿卜杜勒·拉蒂夫·贾米尔(Abdul Latif Jameel)的高管，当时他正在美国访问，会见了时任住友商事底特律办事处总经理的宫崎骏。住友商事和ALJ在沙特阿拉伯经营一家合资建筑设备分销商，两家公司正在美国寻找其他合作机会。</blockquote> It was then that Miyazaki heard Scaringe was going to make his first public appearance, at a town meeting hosted by the Original Equipment Suppliers Association at a venue not far from Detroit.<blockquote>就在那时，宫崎骏听说斯卡林奇将在离底特律不远的地方由原始设备供应商协会主办的城镇会议上首次公开露面。</blockquote> At the event, Scaringe made a passionate case for developing large EVs, a \"white space\" where competition was scarce. His plan was to roll out a sport utility vehicle and a pickup truck by approximately 2020. Rivian would leverage the new brand image to secure more funding, which would then be used to develop shared EVs and fully autonomous driving technology by 2023.<blockquote>在活动中，斯卡林奇对开发大型电动汽车提出了热情的理由，这是一个竞争很少的“空白”。他的计划是在2020年左右推出一款运动型多功能车和一款皮卡车。Rivian将利用新的品牌形象获得更多资金，然后在2023年前用于开发共享电动汽车和全自动驾驶技术。</blockquote> Many EV startups who bill themselves as the next Tesla pour their resources into developing sports cars. However, Scaringe demonstrated he was quick to pick up on shifting consumer tastes while maintaining a focus on next-generation technology.<blockquote>许多自称是下一个特斯拉的电动汽车初创公司将资源投入到开发跑车上。然而，斯卡林奇证明，他很快就能跟上不断变化的消费者口味，同时保持对下一代技术的关注。</blockquote> Miyazaki was floored by Scaringe's business model.<blockquote>宫崎骏被斯卡林奇的商业模式震惊了。</blockquote> \"Large-sized vehicles have a huge market in the U.S. because of their popularity, and I felt it was very rational since you could equip the vehicles with large-capacity batteries and extend driving ranges,\" said Miyazaki, who now heads Sumitomo's Beyond Mobility department.<blockquote>“大型车辆在美国拥有巨大的市场，因为它们很受欢迎，我觉得这是非常合理的，因为你可以为车辆配备大容量电池并延长行驶里程，”现任住友超越移动部门负责人的宫崎说。</blockquote> Miyazaki immediately launched a due diligence review of Rivian with Tatsuo Ishibashi, a subordinate who now heads the Detroit office. The team discovered the startup had taken the unusual step of spending $16 million buying an Illinois plant from Mitsubishi Motors in early 2017.<blockquote>宫崎骏立即与现任底特律办公室负责人的下属石桥达夫展开了对Rivian的尽职审查。该团队发现，这家初创公司采取了不同寻常的步骤，在2017年初斥资1600万美元从三菱汽车公司购买了伊利诺伊州的一家工厂。</blockquote> Mitsubishi Motors had originally invested 200 billion yen ($1.75 billion at current rates) in the assembly plant, which also handled engines, presswork and coating. The site has the capacity to turn out 250,000 vehicles a year.<blockquote>三菱汽车最初在该装配厂投资了2000亿日元（按当前价格计算为17.5亿美元），该装配厂还生产发动机、冲压和涂层。该工厂每年可生产25万辆汽车。</blockquote> \"This is a company that has a proper footing,\" Ishibashi thought of Rivian.<blockquote>“这是一家站稳脚跟的公司，”石桥想到了Rivian。</blockquote> When Miyazaki and Ishibashi began negotiating with Scaringe, they were drawn to his personality. When a Sumitomo executive visited from the Tokyo home office to tour Rivian, Scaringe discussed his business strategy, balancing logic with passion.<blockquote>当宫崎骏和石桥开始与斯卡林格谈判时，他们被他的个性所吸引。当住友商事的一位高管从东京都总部访问Rivian时，斯卡林奇讨论了他的商业战略，平衡了逻辑和激情。</blockquote> \"There may be times when a change in course is needed, but I felt we'd certainly arrive at solutions with Mr. Scaringe at the helm,\" said Miyazaki.<blockquote>宫崎骏说：“有时可能需要改变方针，但我觉得在斯卡林奇先生的领导下，我们肯定会找到解决方案。”</blockquote> Sumitomo decided to invest in Rivian in October 2017, and the transaction closed that December. The Japanese group became the automaker's second corporate investor after ALJ.<blockquote>住友商事于2017年10月决定投资Rivian，交易于当年12月完成。这家日本集团成为该汽车制造商继ALJ之后的第二家企业投资者。</blockquote> Ishibashi relocated to Rivian's Detroit headquarters at the end of October 2017. A&nbsp;year later, Amazon.com founder Jeff Bezos came to observe the startup. Negotiations between Amazon and Rivian proceeded smoothly, and a $700 million infusion was announced just four months later, making Amazon the largest investor. Amazon also apparently&nbsp;ordered&nbsp;100,000 all-electric delivery vehicles from Rivian.<blockquote>石桥于2017年10月底搬迁至Rivian底特律总部。一年后，亚马逊创始人杰夫·贝索斯前来观摩这家初创公司。亚马逊与Rivian的谈判进展顺利，仅4个月后就宣布注入7亿美元，使亚马逊成为最大的投资者。亚马逊显然还从Rivian订购了10万辆全电动送货车。</blockquote> After investing in Rivian, Sumitomo became an eager intermediary between the automaker and Japanese suppliers. But at the time, Tesla was experiencing problems with production, which caused players in the automotive supply chain to be wary of EV startups.<blockquote>在Rivian投资后，住友商事成为汽车制造商和日本供应商之间热切的中间人。但当时，特斯拉在生产方面遇到了问题，这导致汽车供应链中的参与者对电动汽车初创公司持谨慎态度。</blockquote> Japanese suppliers were particularly unwilling to move forward on contract negotiations. Ishibashi's team arranged for Scaringe to personally meet with executives from Denso, Aisin and Panasonic so that they could hear his business model.<blockquote>日本供应商尤其不愿意推进合同谈判。石桥的团队安排斯卡林格亲自会见电装、爱信和松下的高管，以便他们听到他的商业模式。</blockquote> Sumitomo also brokered discussions concerning post-mass production tie-ups. One automaker wanted to jointly use a charging system while a Japanese non-life insurance provider pitched a partnership for an insurance business, according to Sumitomo.<blockquote>住友商事还促成了有关量产后合作的讨论。住友商事表示，一家汽车制造商希望联合使用充电系统，而一家日本非人寿保险提供商则寻求合作开展保险业务。</blockquote> \"We're not planning to sell Rivian shares for the time being,\" said Ishibashi. \"As a shareholder, we intend to support [Rivian] in distribution and after-sales services outside the U.S. and take an active approach in our collaboration.\"<blockquote>“我们暂时不打算出售Rivian股票，”石桥说。“作为股东，我们打算支持[Rivian]在美国以外的分销和售后服务，并在我们的合作中采取积极的态度。”</blockquote> Rivian started delivering its R1T pickup this September, which sells for about $67,000. In its first quarterly report since the float, the company revealed that it made only $1 million in revenue in the July-September period. The net loss exceeded $1.2 billion.<blockquote>Rivian今年9月开始交付R1T皮卡，售价约为67,000美元。该公司在上市以来的第一份季度报告中透露，7月至9月期间的收入仅为100万美元。净亏损超过12亿美元。</blockquote> The semiconductor shortage this year limited production to about 1,000 vehicles. Rivian's next task is to develop an infrastructure for mass production.<blockquote>今年半导体短缺将产量限制在1000辆左右。Rivian的下一个任务是开发大规模生产的基础设施。</blockquote> On Dec. 16, the same day as the earnings report, Rivian announced it would build an additional assembly plant and expand the Illinois plant. The goal is to lift annual capacity to 600,000 units in 2024.<blockquote>12月16日，也就是财报发布的同一天，Rivian宣布将增建一座装配厂，并扩建伊利诺伊工厂。目标是到2024年将年产能提高到60万台。</blockquote> \"Manufacturing cars is really difficult,\" said Miyazaki. \"Moreover, I'd expect [Rivian] to face various barriers because it's a startup.\"<blockquote>“制造汽车确实很困难，”宫崎骏说。“此外，我预计[Rivian]将面临各种障碍，因为它是一家初创公司。”</blockquote> When Amazon invested in Rivian, the valuation of the startup was estimated at between $1 billion and $2 billion, giving it unicorn status. By the time the company ended its first day of trading on Nov. 10, its market capitalization stood at $85.9 billion. If a company with a valuation of $10 billion qualifies as a decacorn, then Rivian would be a superdecacorn.<blockquote>当亚马逊投资Rivian时，这家初创公司的估值估计在10亿至20亿美元之间，这使其获得了独角兽地位。截至11月10日该公司首日交易结束时，其市值为859亿美元。如果一家估值为100亿美元的公司有资格成为十角兽，那么Rivian将成为超级十角兽。</blockquote> Sumitomo had not disclosed its&nbsp;investment amount, so Rivian's valuation in late 2017 was unclear. But if Amazon's investment is used as a starting point, Rivian's enterprise value would have multiplied 40 to more than 80 times over.<blockquote>住友尚未披露其投资金额，因此Rivian在2017年底的估值尚不清楚。但如果以亚马逊的投资为起点，Rivian的企业价值将增长40至80倍以上。</blockquote> Amid the soaring fortunes, Sumitomo President Masayuki Hyodo is keeping a cool head.<blockquote>在财富飙升的情况下，住友商事社长兵藤雅之保持着冷静的头脑。</blockquote> \"Making money off investments in startups is not the role of a trading company,\" said Hyodo. \"Rivian is a company that is very important to our EV platform. I can't speak to whether or not we'll make additional investments, but there is potential for all forms of collaboration.\"<blockquote>“通过投资初创公司赚钱不是贸易公司的职责，”Hyodo说。“Rivian是一家对我们的电动汽车平台非常重要的公司。我不能说我们是否会进行额外投资，但各种形式的合作都有潜力。”</blockquote> Rivian's share price once approached $180 -- more than twice its original offer price of $78. Since then, its price has tumbled to about $100. This largely stems from an announcement in late November that Ford Motor and Rivian were scrapping plans to jointly develop EVs. Ford owns 12% of Rivian.<blockquote>Rivian股价一度逼近180美元——是其最初发行价78美元的两倍多。从那以后，它的价格跌至100美元左右。这很大程度上源于11月底福特汽车和Rivian宣布取消联合开发电动汽车的计划。福特拥有Rivian 12%的股份。</blockquote> American EV startups Nikola and Lordstown Motors were consumed by fraud scandals in 2020 and 2021, respectively. Their market caps fell to less than one sixth of their peak values. Although Sumitomo had the foresight to invest in Rivian early, the Japanese group's ability to further develop&nbsp;its close relationship with the startup will come under scrutiny.<blockquote>美国电动汽车初创公司Nikola和Lordstown Motors分别在2020年和2021年陷入欺诈丑闻。它们的市值跌至不到峰值的六分之一。尽管住友商事很早就有先见之明在Rivian投资，但这家日本集团进一步发展与这家初创公司密切关系的能力将受到审视。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://asia.nikkei.com/Business/Startups/Sumitomo-wins-big-with-early-bet-on-EV-startup-Rivian\">Nikkei Asia</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RIVN":"Rivian Automotive, Inc."},"source_url":"https://asia.nikkei.com/Business/Startups/Sumitomo-wins-big-with-early-bet-on-EV-startup-Rivian","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163369412","content_text":"Once-secretive automaker now worth almost 100 times its original value\nA Rivian R1T all-electric truck in Times Square in New York on Nov. 10, the automaker's first day of trading. © AP\nTOKYO -- In the spring of 2017, a Saudi business associate made an intriguing proposal to Yoshito Miyazaki, an executive at Japanese trading house Sumitomo Corp., asking if he would like to invest in an interesting electric vehicle startup together.\nThe target of the pitch was Rivian Automotive, which at the time was still operating in stealth mode with hardly any information to its name. The CEO of the outfit, R.J. Scaringe, maintained an especially low profile.\nWhat a difference four years make. Now Rivian's market capitalization hovers at about $100 billion following its debut on Nasdaq in November. Rivian's value has grown by a magnitude of nearly 100, and Sumitomo was one of the investors that got in on the ground floor.\nThe business associate, an executive at Saudi conglomerate Abdul Latif Jameel, had been visiting the U.S. when he met with Miyazaki, then the general manager of Sumitomo's Detroit office. Sumitomo and ALJ operate a joint-venture construction equipment distributor in Saudi Arabia, and the two companies were looking for other collaborative opportunities in the U.S.\nIt was then that Miyazaki heard Scaringe was going to make his first public appearance, at a town meeting hosted by the Original Equipment Suppliers Association at a venue not far from Detroit.\nAt the event, Scaringe made a passionate case for developing large EVs, a \"white space\" where competition was scarce. His plan was to roll out a sport utility vehicle and a pickup truck by approximately 2020. Rivian would leverage the new brand image to secure more funding, which would then be used to develop shared EVs and fully autonomous driving technology by 2023.\nMany EV startups who bill themselves as the next Tesla pour their resources into developing sports cars. However, Scaringe demonstrated he was quick to pick up on shifting consumer tastes while maintaining a focus on next-generation technology.\nMiyazaki was floored by Scaringe's business model.\n\"Large-sized vehicles have a huge market in the U.S. because of their popularity, and I felt it was very rational since you could equip the vehicles with large-capacity batteries and extend driving ranges,\" said Miyazaki, who now heads Sumitomo's Beyond Mobility department.\nMiyazaki immediately launched a due diligence review of Rivian with Tatsuo Ishibashi, a subordinate who now heads the Detroit office. The team discovered the startup had taken the unusual step of spending $16 million buying an Illinois plant from Mitsubishi Motors in early 2017.\nMitsubishi Motors had originally invested 200 billion yen ($1.75 billion at current rates) in the assembly plant, which also handled engines, presswork and coating. The site has the capacity to turn out 250,000 vehicles a year.\n\"This is a company that has a proper footing,\" Ishibashi thought of Rivian.\nWhen Miyazaki and Ishibashi began negotiating with Scaringe, they were drawn to his personality. When a Sumitomo executive visited from the Tokyo home office to tour Rivian, Scaringe discussed his business strategy, balancing logic with passion.\n\"There may be times when a change in course is needed, but I felt we'd certainly arrive at solutions with Mr. Scaringe at the helm,\" said Miyazaki.\nSumitomo decided to invest in Rivian in October 2017, and the transaction closed that December. The Japanese group became the automaker's second corporate investor after ALJ.\nIshibashi relocated to Rivian's Detroit headquarters at the end of October 2017. A year later, Amazon.com founder Jeff Bezos came to observe the startup. Negotiations between Amazon and Rivian proceeded smoothly, and a $700 million infusion was announced just four months later, making Amazon the largest investor. Amazon also apparently ordered 100,000 all-electric delivery vehicles from Rivian.\nAfter investing in Rivian, Sumitomo became an eager intermediary between the automaker and Japanese suppliers. But at the time, Tesla was experiencing problems with production, which caused players in the automotive supply chain to be wary of EV startups.\nJapanese suppliers were particularly unwilling to move forward on contract negotiations. Ishibashi's team arranged for Scaringe to personally meet with executives from Denso, Aisin and Panasonic so that they could hear his business model.\nSumitomo also brokered discussions concerning post-mass production tie-ups. One automaker wanted to jointly use a charging system while a Japanese non-life insurance provider pitched a partnership for an insurance business, according to Sumitomo.\n\"We're not planning to sell Rivian shares for the time being,\" said Ishibashi. \"As a shareholder, we intend to support [Rivian] in distribution and after-sales services outside the U.S. and take an active approach in our collaboration.\"\nRivian started delivering its R1T pickup this September, which sells for about $67,000. In its first quarterly report since the float, the company revealed that it made only $1 million in revenue in the July-September period. The net loss exceeded $1.2 billion.\nThe semiconductor shortage this year limited production to about 1,000 vehicles. Rivian's next task is to develop an infrastructure for mass production.\nOn Dec. 16, the same day as the earnings report, Rivian announced it would build an additional assembly plant and expand the Illinois plant. The goal is to lift annual capacity to 600,000 units in 2024.\n\"Manufacturing cars is really difficult,\" said Miyazaki. \"Moreover, I'd expect [Rivian] to face various barriers because it's a startup.\"\nWhen Amazon invested in Rivian, the valuation of the startup was estimated at between $1 billion and $2 billion, giving it unicorn status. By the time the company ended its first day of trading on Nov. 10, its market capitalization stood at $85.9 billion. If a company with a valuation of $10 billion qualifies as a decacorn, then Rivian would be a superdecacorn.\nSumitomo had not disclosed its investment amount, so Rivian's valuation in late 2017 was unclear. But if Amazon's investment is used as a starting point, Rivian's enterprise value would have multiplied 40 to more than 80 times over.\nAmid the soaring fortunes, Sumitomo President Masayuki Hyodo is keeping a cool head.\n\"Making money off investments in startups is not the role of a trading company,\" said Hyodo. \"Rivian is a company that is very important to our EV platform. I can't speak to whether or not we'll make additional investments, but there is potential for all forms of collaboration.\"\nRivian's share price once approached $180 -- more than twice its original offer price of $78. Since then, its price has tumbled to about $100. This largely stems from an announcement in late November that Ford Motor and Rivian were scrapping plans to jointly develop EVs. Ford owns 12% of Rivian.\nAmerican EV startups Nikola and Lordstown Motors were consumed by fraud scandals in 2020 and 2021, respectively. Their market caps fell to less than one sixth of their peak values. Although Sumitomo had the foresight to invest in Rivian early, the Japanese group's ability to further develop its close relationship with the startup will come under scrutiny.","news_type":1,"symbols_score_info":{"RIVN":0}},"isVote":1,"tweetType":1,"viewCount":2480,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Sumitomo wins big with early bet on EV startup Rivian<blockquote>住友商事早期押注电动汽车初创公司Rivian赢得大奖</blockquote>

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