Rivian IPO |
Rivian was founded in 2009 by Robert "RJ" Scaringe. The company has not officially endorsed a plan to participate in an IPO.
Rivian, often touted as a competitor of Tesla, is an electric vehicle developer and manufacturer. The two products currently in development – an SUV and a pickup truck – are planned to have semi-autonomous capabilities and are designed for off-road use in addition to normal usage. The company has raised approximately $5.8 billion in Venture Capital funding from investors including BlackRock, T. Rowe Price, Soros, Fidelity, Baron Capital Group, Cox Automotive, Ford, and Amazon.com. Per company press releases, Rivian last raised $2.5 billion in July 2020 at an undisclosed post-money valuation.
Rivian Automotive Inc., the electric-truck startup backed by Amazon.com Inc., has selected underwriters for an initial public offering that could come later this year. Rivian could seek a value of about $70 billion when it goes public, according to the people. Bloomberg News previously reported it could seek a valuation of about $50 billion.
Rivian said that deliveries of the R1T Launch Edition, the limited edition release of its first series of “electric adventure vehicles,” will be delayed by a month, according to an update on its website. Customers who preordered can now expect to start receiving their pickup trucks in July instead …
US-based electric truck startup Rivian launched its own insurance coverage across 40 states, which are underwritten by third-party carriers.
Electric vehicle startup Rivian, backed by Amazon.com Inc and Ford Motor Co, said on Monday that South Korean manufacturer Samsung SDI Co Limited would supply battery cells for its vehicles.
Rivian, the Amazon-backed EV manufacturer aiming to bring an electric pickup to market later this year, has partnered with Samsung SDI as its battery cell supplier, the company said Monday. The two companies did not disclose the value of the deal or its term length, but in a statement released Mond…
Rivian is installing the first of its waypoint chargers in Colorado this July
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