Tesla rival Rivian is preparing for an IPO
The American electric car maker plans to go public in September and seek a $ 50 billion valuation. For that, they will have to overcome big obstacles. Among them, the fact that it has not yet delivered any units
Tesla tends to dominate conversations about electric vehicles – and it’s not for nothing. Its founder, Elon Musk, is one of the biggest “influencers” in the financial market. But they are not alone in this market. One of the companies willing to gain momentum in this race is also the American Rivian, which wants to go public on the American stock exchange this year and, in this journey, reach a market value of US $ 50 billion.
In January, Rivian received an investment of US $ 2.65 billion in a round led by T. Rowe Price. Founded in 2009, the company has raised $ 8 billion from major investors such as Amazon, Ford and the manager BlackRock.
Both Amazon and Ford are not just investors. Rivian signed a contract with the virtual retail giant to produce 100,000 electric vans, which will be used in deliveries by 2030. The first batch, of 10,000 units, is expected to circulate in the United States as early as 2022.
According to its plan for 2021, ten stores will open throughout the year, starting in Chicago, and the first units are expected to be delivered to customers starting in June.