Rivian, an electric-vehicle maker that has been around for over a decade, finally got around to delivering a product this year — 156 pickup trucks — and nearly all went to its employees.

Despite that minuscule total, investors on Wednesday decided Rivian was in the same league as some of the most recognized names in the auto industry, like General Motors and Ford Motor, which churn out millions of vehicles a year.

In the first day of trading after its initial public offering, Rivian’s stock jumped 29%, putting its market value at $86 billion — in line with GM’s and higher than Ford’s.