Electric vehicle startup Rivian Automotive, whose investors include Amazon and Ford Motor Company, is examining the possibility of an initial public offering in September (IPO) valued at $ 50 billion, Bloomberg reported on Wednesday (February ) 10) citing sources

Rivian has been in talks with lenders, one of the sources told Bloomberg that possible filing could be after September or postponed until 2022, one of the sources said

Rivian, a competitor to Tesla, was founded by Robert J Scaringe in 2009 and has raised more than $ 8 billion to date. The company specializes in the manufacture of electric pickups and SUVs and has offices in Michigan, California and Illinois

If the company fils for an IPO valued at $ 50 billion, it could be among the biggest filings of 2021. Tesla went public in 2010

A $ 2Following a $ 65 billion round of funding last month, the company’s valuation was $ 27.6 billion The round was led by funds and accounts advised by T Rowe Price, with the participation of Fidelity Management and Research, the Climate Pledge Fund from Amazon, Coatue, D1 Capital Partners and other existing and new investors

In addition to electric SUVs and pickups, Rivian uses its skateboard platform to make 100Developing 000 custom electric delivery vans for Amazon

The R1T Pickup and R1S SUV will be the company’s first vehicles and will be manufactured at the Normal, Illinois factory. Deliveries to customers are expected this summer

Earlier this month, Amazon launched the first of its 100000 Rivian vans launched in Los Angeles as the company continues to work to be net-zero by 2040. Amazon plans to expand its fleet to 15 more cities before the end of 2021 The all-electric vans can run up to as much on a single charge drive to 150 miles

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Businesses rely on a variety of insurance plans, ranging from employee benefits paid for medical care when employees are injured

If the pandemic continues and individuals and families suffer from financial crises and job losses, then the risk of unplanned expenses can be reached

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Rivian

World news – USA – IPO of electric vehicles Rivian Eyes 2021 IPO

Source: https://www.pymnts.com/news/ipo/2021/amazon-backed-electric-vehicle-startup-rivian-eyes-2021-ipo/