Electric vehicle manufacturer Rivian is planning its initial public offering for next week, according to a regulatory filing.
The company is seeking a valuation of just over $60 billion. The automaker will trade on the Nasdaq Stock Market under the symbol RIVN. Rivian, which just recently started delivering its first vehicles, filed for the IPO in September.
In all, Rivian has raised about $10.5 billion since 2019 from several notable backers. In particular, Amazon has purchased 100,000 electric delivery vans from the company alongside a 20% stake in the automaker. Ford and Cox Automotive are also strategic investors.
Early reviews of Rivian’s R1T pickup have been very favorable. Once Rivian scales production of its pickup and R1S SUV it has plans to grow its product offering to range from delivery vans to trucks to smaller commuter vehicles.
The company is currently building trucks in a former Mitsubishi plant in Illinois. A second U.S. factory is reportedly planned in Arizona that would produce both cars and batteries.