Rivian aims for IPO this year, report says

Rivian Automotive, the electric-vehicle startup backed by Amazon.com and Ford Motor, is looking to go public as soon as September at a valuation of about $50 billion and perhaps more, according to people familiar with the matter.

The company’s timeline for an initial public offering isn’t final and a listing could happen later in the year or even slip to 2022, said the people, who asked not to be identified discussing private information. Rivian has been speaking to bankers about its plans, one of the people said.

Rivian, has raised more than $8 billion to date from investors who expect its battery-electric pickup and SUV to perform well in the U.S. market. At a $50 billion valuation, it would likely be one of the biggest IPOs of the year and one of the most noteworthy EV listings since Tesla 2010 offering.

Source: https://www.autonews.com/

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