Amazon-backed Rivian files for initial public offering, seeking $80 billion valuation

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NORMAL, Ill. (WMBD) — Although Rivian electric vehicles are not currently available, its common stock has just been submitting for public offering.

The electric vehicle company released a statement Friday morning reporting it has submitted its S-1 Registration to the Securities and Exchange Commission. This is a form a company submits when trying to go from private to public.

While Rivian claims the “size and price range” are yet to be reported, Bloomberg reports that anonymous sources are seeking roughly an $80 billion valuation.

The SEC will review the public offering. Bloomberg also reported Rivian hopes to do its initial public offering closer to Thanksgiving.

Rivian previously pushed back the delivery of its first electric vehicle until at least September. The R1T model, was initially slated for a July release.

The electric car company also announced in September 2019 it was developing a custom electric delivery van for Amazon utilizing Rivian’s skateboard platform and that 100,000 of these vans had been ordered with customer deliveries starting in 2021.

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