Rivian has plans for an initial public offering (IPO) at a valuation of about $50 billion or more in the near future. People familiar with the matter told Bloomberg that Rivian could go public later this year around September or sometime in 2022.
Thus far, Rivian has raised more than $8 billion from investors. The company has three electric vehicles coming into the EV market, a battery-electric van, the Rivian R1T pickup truck, and its R1S SUV. Trillion-dollar e-commerce giant Amazon has ordered 100,000 units of Rivian’s van for its own all-electric delivery fleet.
Late last year, Rivian announced the official prices and release dates of the R1T pickup truck and R1S SUV. The EV startup will release three variants of the vehicles, the Launch Edition, Adventure Package, and Explore Package.
The starting price of the R1t is $75,000 with 300+ miles of range. The release dates of Rivian’s pickup truck is June 2021 in the United States and November 2021 in Canada. The starting price of the R1S is $77,500 with 300+ miles. The electric SUV’s released dates are August 2021 for the US and November 2021 for Canada.
Rivian has been labeled a strong potential competitor against Tesla, especially when it comes to Elon Musk’s futuristic Cybertruck. The EV startup even plans to set up dozens of EV chargers in adventurous locations for its customers, similar to Tesla’s destination chargers. Rivian’s IPO will likely make as big of a splash in the stock market as Tesla and will mark another significant step in the global EV market’s growth.