Electric-vehicle startup Rivian, backed by Amazon and Ford, wants to go public as soon as September at a valuation of about US$50bn or more, Reuters said, citing a Bloomberg News report.
Rivian had been in talks with bankers about its plans but the timeline for an initial public offering wasn’t final and a listing could happen later in the year or next year, Reuters reported Bloomberg News as saying, citing unnamed sources.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The EV maker declined to comment to Reuters.
Reuters noted Rivian, which aims to start production of an electric pickup and SUV this year, announced in January 2021 a $2.65bn investment round led by T Rowe Price. The startup had said it had raised $8bn since the start of 2019.
The company’s deliveries of pickups would start in June, while those of SUVs would begin in August. Launch editions of the vehicles are priced at $75,000 and $77,500, respectively, with a 300 mile (480km) driving range for both, the report added.
