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Electric vehicle maker Rivian files to go public


Amazon has a new van for delivery

Amazon

Rivian Automotive filed Friday for an Initial Public Offering on Nasdaq. The company is developing electric cars, as well as commercial delivery vans, for Amazon. Under the ticker symbol RIVN, the company plans to trade on Nasdaq.

The paperworkRivian reports a loss of $994 million on zero revenue for the six first months in 2021.

Rivian was founded by Robert Scaringe in 2009, after he received a Ph.D. at the Sloan Automotive Laboratory of the Massachusetts Institute of Technology. It is located in Irvine (Calif.) and has 6,274 employees. It was completed at the close of June

Amazon FordEach owns more than 5% of company. Rivian is represented by Peter Krawiec (Amazon’s Senior Vice President of Worldwide Corporate and Business Development).

WATCH: Rivian CEO: We’re ready to enter e-pickup race

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.