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The company could go public as soon as September with a valuation of $50 billion, according to the report. The news comes a few weeks after Rivian raised $2.7 billion in a private-equity round led by T. Rowe Price.
The news comes as more eyes are on the EV market, between the performance of Tesla’s stock this past year — it’s stock price has increased more than 427 percent over the past 12 months — and announcements of companies like Ford and GM doubling down on EV.
Funding for venture-backed electric vehicle companies reached $7.8 billion last year, according to Crunchbase data, with Rivian’s $2.5 billion private-equity round being the largest EV funding round in 2020.
Rivian’s public debut would follow a handful of other electric vehicle-makers going public, including Chinese EV manufacturer Li Auto, which went public through an IPO, and Nikola Motor Co., which went public via a special purpose acquisition company.
Bloomberg reported that while Rivian could go public as early as September, it could be pushed to later in the year or in 2022.
Photo courtesy of Rivian
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