Neil here. Elon Musk is having a weird month.

Around the same time his startup, SpaceX, launched the first all-civilian crew into lower Earth orbit, his electric vehicle company, Tesla, took a hard hit.

The news? EV startup Rivian has officially brought the very first electric pickup truck – its R1T model – to market… beating not only Tesla, but other auto greats like General Motors, to the punch.

Rivian is backed by both Amazon and Ford. The company just filed to go public in what could be the fourth largest IPO of the decade if it unfolds. They plan to raise $8 billion in their offering, expected to happen around Thanksgiving.

The Rivian announcement tells us that Tesla is no longer king of the electric vehicle jungle – but frankly, we’ve known that for a while. Back as far as April, we reported that Tesla was (and still is) under threat from giants like Ford, Volkswagen, Renault, and more – and not just here in the United States, but around the world.

Tesla held the electric vehicle crown for a long time. It launched in 2003 as an industry pioneer, and had a steady first-mover advantage that established it as the market’s frontrunner. Months ago, we said that if Tesla wants to maintain that title, it would need to move quickly to leave its competition in the dust.

To me, it looks like Tesla is struggling to do just that. Now that Rivian has sent its R1T model to market, it can claim its own spot as a first mover in the electric pickup truck space, just like Tesla did with electric cars in 2003.

I’d even argue that Rivian stands a better chance at first-mover success than Tesla did 18 years ago, simply because electric vehicles are more standard these days than they ever were back then. Electric pickup trucks alone have the potential to make up a massive share of the automobile market in the coming years, with 40% of pickup truck shoppers already reporting that they’d consider switching to an electric model.

Tesla went public back in 2010 at a valuation of $1.7 billion – already around 4,605% less than Rivian’s expected $80 billion IPO valuation. Tesla’s IPO raised $226 million for the company – around 3,440% less than what Rivian expects to raise.

And in the 11 years since it went public, Tesla’s share price spiked from just $17 to a 52-week high of $900.40 earlier this year. If Rivian can even capture a sliver of Tesla’s post-IPO success – which I’m confident it can- we could be looking at the world’s next greatest electric vehicle powerhouse.

But Rivian’s success (along with Tesla… Ford… GM… Volkswagen… and more) in the electric vehicle space hinges on one specific piece of equipment: batteries. Without them, the entire EV industry will come to a screeching halt – and Rivian’s potential success along with it.

Based on Rivian’s growth trajectory, I really don’t want to see that happen. That’s why there’s another company out there that I really think you should watch alongside Rivian.

It’s about to go public on the Nasdaq any day now at a share price of just $4 a pop. It’s also already listed on a foreign exchange, where it shot up 1,147% over just the past year.

Its secret? This company has figured out a way to help recreate electric vehicle batteries right here in the United States… without the need to import expensive materials, rely on foreign countries, or release harmful chemicals into the environment. It’s one of the only companies out there with this kind of technology, and giants like Tesla and Toyota have already started using it.

If and when it hits the Nasdaq, its past performance tells me that this company’s stock could explode over just the course of weeks and months. Top analysts believe it could gain 1,000% or more in just a year… They’re that confident.

But again, this company could go public as early as tomorrow… so I suggest you learn all about it today with this quick report that contains more important details.

Just click here to check it out, and I’ll be back soon with another update.

Until next time,

Neil Patel