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.