Rivian has not yet launched its electric pick-up, which was officially announced in 2018. Truck R1T still brought the E-SUV R1S onto the market. However, the electric car maker is considered a well-financed startup. Rivian has now raised $ 10.5 billion. Investors include Amazon and Ford. Rivian is expected to build 100,000 e-vans for Amazon by the end of the decade. There have been rumors of a planned IPO for a long time. Rivian is now venturing out of cover.
Rivian submits application for IPO
As announced by the company, it has filed a so-called S-1 application with the US Securities and Exchange Commission. The company has not announced anything about the volume of the planned IPO – Rivian does not rely on a shell IPO (Spac) like many other startups. There is also no official information about the possible time of the debut on the trading floor.
The usually well-informed news agency Bloomberg assumes that Rivian would be valued at around 80 billion dollars if it went public. This would make the IPO one of the largest IPOs this year. According to company insiders, the company is planning its IPO around Thanksgiving, which will take place on November 25 this year. The exact time depends on how quickly the SEC completes the examination of the submitted documents.
Start of production for E-Truck R1T in August?
Rivian has had to postpone the start of production of the R1T e-truck several times, but according to Bloomberg, the start of test production is planned for August. Rivian will initially build the pick-up and the R1S electric SUV, which has been postponed indefinitely, in a former Mitsubishi factory in the US state of Illinois. The automaker is also negotiating a second US plant in Texas. The search for potential factory sites in Europe was also recently reported. Rivian could manufacture the e-vans for Amazon there.
