Electric-truck maker Rivian said Friday that it has confidentially filed for an initial public offering, with size and price range to be determined.
Rivian has two electric pickup trucks in its pipeline, the R1T, expected to have a battery range of more than 300 miles, and the R1S, an SUV with similar range. Rivian has a plant in Illinois, and is valued at around $10 billion after several investment rounds.
The IPO is expected to take place after the SEC completes its review process, subject to market and other conditions, the company said in its brief press release.
Rivian was one of the recipients of Amazon.com Inc.’s
$2 billion Climate Pledge Fund. Amazon has taken a $440 million stake in Rivian and plans to use Rivian’s EVs in its delivery network.