Rivian Files to Become Publicly Traded Company
Aug. 31, 2021—EV startup Rivian announced late last week it had filed paperwork with the Securities and Exchange Commission to become a publicly traded company.
The company, which is backed by Amazon, Ford and other investors, is seeking an $80 billion valuation, according to a report from the Detroit Free Press. Such a valuation would make the company one of the most valuable companies, topping both General Motors' $72 billion capitalization and Ford's $53 billion.
Rivian has a contract with Amazon to build 100,000 electric delivery vans starting this year at its Illinois plant, though it has yet to deliver a single vehicle to any customer. The company has more than 7,500 employees across the country.