RIVIAN ELECTRIC CAR MANUFACTURER COULD BE WORTH OVER $ 53 BILLION AFTER ITS IPO
(Reuters) – Electric car maker Rivian, which counts Amazon as an investor, is targeting a valuation above $ 53 billion once its IPO process completes, an amount higher than Honda’s current market capitalization.
Rivian, whose goal is to become a competitor to Tesla, announced this summer that he had submitted confidential documents to the US authorities for such an IPO. The date of the operation, which should allow it to raise $ 8 billion, was set for November 9 with a listing the next day.
It intends to launch this year the production of an electric pickup and SUV.
Rivian has raised $ 10.5 billion since the start of 2019, including $ 2.5 billion last July during a fundraising campaign led by Amazon and Ford.
(Noor Zainab Hussain and Niket Nishant in Bangalore; French version Nicolas Delame)