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: A new Big Three? Rivian and Lucid’s valuations are accelerating past Ford, GM

Rivian Automotive Inc.’s market valuation is already nearly double that of Ford Motor Co. and zoomed past General Motors Co. a week into the electric-vehicle startup’s life as a public company, while rival Lucid Motors’ market value closed in on GM’s and topped Ford’s on Tuesday, underscoring investors’ appetite for EV makers and the hunt for the next Tesla Inc.

Rivian RIVN went public last Tuesday after the biggest initial public offering of the year and seventh-largest U.S. IPO since the mid-1990s. The stock ended 15% higher…

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