Rivian Automotive, an electric vehicle startup backed by Amazon, announced Friday that it has filed a confidential draft registration form for an IPO
Amazon/Jordan Stead
The size and price range for the IPO have not been determined, the company said in a release. Rivian did not immediately respond to the request for comment.
Why are Facebook and Amazon afraid of Lina Khan?
The news comes months after Bloomberg reported that the company had selected Goldman Sachs, JPMorgan, and Morgan Stanley as underwriters for its IPO and could seek a $70 billion valuation.
In recent months, the electric vehicle company has reportedly begun scaling up production nationwide. Media outlets reported last month that the company was planning a second electric vehicle assembly plant. The company’s existing U.S. plant is located in Normal, Illinois.
Last month, the company also closed a $2.5 billion funding round led by Amazon, Ford Motor, and T. Rowe Price. Since 2019, Rivian has raised about $10.5 billion.
In September 2019, Amazon agreed to purchase 100,000 Rivian electric vans. Earlier this year, the company began testing electric delivery vans in San Francisco and Los Angeles.
Amazon’s shares were flat in morning trading, while shares of Ford were up more than 2%.
Napomena o autorskim pravima: Dozvoljeno preuzimanje sadržaja isključivo uz navođenje linka prema stranici našeg portala sa koje je sadržaj preuzet. Stavovi izraženi u ovom tekstu autorovi su i ne odražavaju nužno uredničku politiku The Balkantimes Press.
Copyright Notice: It is allowed to download the content only by providing a link to the page of our portal from which the content was downloaded. The views expressed in this text are those of the authors and do not necessarily reflect the editorial policies of The Balkantimes Press.