RJ Scaringe grew up studying the auto industry, peering under parked cars as a teenager and stashing spare parts around his bedroom. Now, at 38, he wants to disrupt it.
His electric-vehicle maker, Rivian Automotive Inc., represents a direct challenge to Detroit’s auto giants. Last month its initial public offering raised more money than any IPO on a U.S. listing since 2014, making Mr. Scaringe an instant billionaire. Its stock has rallied 47% since the IPO, pushing Rivian’s valuation higher than that of Ford Motor Co. or General Motors Co.