World News – USA – Rivian is reportedly considering going public in 2021

Crunchbase is the premier destination for millions of users to discover industry trends, investments, and news about global companies – from startups to Fortune 1000

The company could go public as early as September, according to the report, valued at $ 50 billion The news comes a few weeks after Rivian raised $ 7 billion in one of T Rowe Price

Michigan-based Rivian makes electric trucks and SUVs The company has raised approximately $ 8, Crunchbase says it has funded 2 billion from investors including Amazon and Ford Motor Co

The news comes as more eyes are on the EV market, between Tesla stock’s performance last year – its stock price is up more than 427 percent over the past 12 months – and the announcement that it is Companies like Ford and GM are doubling down on EV

Funding for venture-backed electric vehicle companies was $ 7 billion last year, with Rivian’s $ 2 billion private equity round, according to Crunchbase data, making the largest EV funding round of the year 2020

Rivian’s public debut would follow a handful of other electric vehicle manufacturers, including Chinese EV maker Li Auto, which went public through an IPO, and Nikola Motor Cothat went public through a special purpose vehicle

Bloomberg reported that while Rivian could go public as early as September, it could be postponed later in the year or in 2022

Stay up to date on the latest funding rounds, acquisitions and more
Crunchbase Daily

Rivian