Electric Car Maker Rivian Wants 8.4 Billion in IPO

The maker of electric cars, Rivian, wants to raise an amount of up to 8.4 billion dollars with its IPO in New York. Rivian’s total valuation on his move to Wall Street is around $60 billion. The IPO could take place next week.

 

Rivian announced that it would sell 135 million shares for a price between 57 and 62 dollars each. The company is listed on the technology indicator Nasdaq under the stock symbol ‘RIVN’.

Sources had previously reported that Rivian would aim for a value of 80 billion dollars in the IPO.

Last week it was announced that online retailer Amazon has a 20 percent stake in Rivian. Amazon is the company’s largest customer with an order for 100,000 electric vans. The first 10,000 vans should be delivered to Amazon before the end of next year.

Rivian is seen as a possible rival to Tesla. In addition to the vans, the company also makes an electric pick-up truck. It will be delivered to customers from the end of this year.

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