Tagged: Rivian

Amazon-backed electric vehicle maker Rivian files for IPO

Electric vehicles updates

Rivian, the electric vehicle company backed by Amazon, has filed confidentially for an initial public offering, the company announced on Friday.

Founded in 2009, the Irvine, California-based company, seen as a significant challenger to Tesla, is seeking a valuation of more than $70bn, according a person familiar with its plans.

A spokeswoman for Rivian declined to comment on the target, nor share a proposed timeline for when the listing might happen. Goldman Sachs is leading the offering.

According to data from

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Rivian, electric vehicle maker backed by Amazon, files for IPO

Amazon plans to have 10,000 new electric delivery vans from Rivian on the road as early as 2022 and 100,000 of the vehicles on the road by 2030.

Amazon/Jordan Stead

Rivian Automotive, an electric-vehicle start-up backed by Amazon, announced Friday that it has filed a confidential draft registration form for an IPO.

The size and price range for the IPO has not been determined, the company said in a release. Rivian did not immediately respond to CNBC’s request for comment.

The news comes months after Bloomberg reported that the company had selected Goldman Sachs, JPMorgan and Morgan Stanley as underwriters

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