Rivian, which has just started deliveries of its battery-powered pickup truck, surged in its first day of trading after completing one of the biggest IPOs in U.S. history.
A ton of new vehicle start-ups are trying to follow in Tesla's footsteps but a battle between one electric pickup maker and a short seller shows how the heavily hyped industry is also a risky one.
Automakers hope Americans will be willing to switch to battery-powered vehicles, for their trucks' sakes, as they race to bring the first electric pickup to market.