Amazon backed EV Start-Up Rivian Files for IPO

  • Rivian Automotive stated a secret going public (IPO) filing on Friday.
  • The organization concluded a $2.5 billion fundraising round led by Amazon, Ford Motor, and T. Rowe Price last month. Rivian has actually reached around $105 billion given that 2019.
  • Amazon dedicated to purchasing 100,000 Rivian electrical automobiles in September 2019.

Rivian Automotive, an Amazon– backed electrical vehicle start-up, exposed Friday that it has actually finished a secret draft registration kind for a going public.

The volume and spending plan series of the IPO have yet to be developed, according to the business’s press declaration. Rivian didn’t at first respond to an ask for remark from CNBC.

The statement comes months after Bloomberg reported that the company had actually picked Goldman Sachs, JPMorgan, and Morgan Stanley as underwriters for its IPO, which might bring up to $70 billion.

In previous months, the electrical vehicle producer is stated to have actually been broadening production throughout the nation. Last month, news websites declared that the company was constructing a 2nd electrical vehicle production factory. The business’s present United States center remains in Normal, Illinois.

Last month, business likewise concluded a $2.5 billion fundraising round sponsored by Amazon, Ford Motor, and T. Rowe Price. Rivian has actually raised over $105 billion given that its creation in 2019.

Amazon dedicated to get 100,000 Rivian electrical cars in September2019 Previously this year, the company began evaluating electrical delivery van in San Francisco and Los Angeles.

Amazon’s stock was the same in early trade, while Ford’s stock was up more than 2%.

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