Paul Lienert and Ben Klayman,

DETROIT, (Reuters) – Rivian Automotive Inc, an electric vehicle startup, plans to build at least 1 million units annually by the end, according to its chief executive. This comes as the company targets market leader Tesla (NASDAQ) Inc.

R.J. Scaringe is the CEO at Rivian. He stated that four factories around the globe would help support the company’s efforts to grow its global presence.

Scaringe stated that “we better be growing at minimum that fast; certain before the end of this decade is how it looks to us,” Scaringe told me in an interview prior to Rivian’s debut on the Nasdaq.

Rivian from Irvine, California stated that it expected to raise close to $12 billion in its largest-ever initial public offerings in America (IPO). Rivian previously raised $10.5 million from Amazon.com, Ford Motor (NYSE) Co and other investors such as T. Rowe Price (NYSE) and BlackRock (NYSE).

The IPO follows the lead of many other EV startups who have been publicized over the last year by reverse merging with SPACs (special-purpose acquisition companies). Rivian, established automakers and startups all race to be on Tesla’s side as the pressure increases in China and Europe to get rid of vehicle emissions.

Rivian owns a Normal plant, Illinois. It has also announced plans to build a second U.S. facility, along with plants in Europe, China, and eventually in Europe. The location and timeframe of the second U.S. facility have not been disclosed.

Rivian stated that the Illinois plant has a current annual production capacity of 150,000 cars and plans to double it to 200,000 in 2023 with new vehicles.

Rivian will be building the R1T pickup trucks and the R1S SUV. Soon, Rivian will also add an electric van to Amazon.com. Amazon.com is Amazon.com’s biggest shareholder at around 20%. Ford Motor Co Rivian owns more than 5% of its shares

Rivian’s R1 line has been sold to 2023, but Scaringe stated that these vehicles were just the beginning. The company will continue expanding its product range.

Rivian did not reveal the price of the product, but he stated that it serves as a brand umbrella.

Starting price for the R1T is $67.500

VAN PRODUCTION

Rivian is also contracted to make 100,000 electric delivery vans by 2025 for Amazon. Rivian will supply the Amazon last-mile vans only for four year, but Scaringe noted that Rivian still has the opportunity to serve other segments such as cargo and mid-mile vans.

Scaringe created the Illinois plant to make the Amazon vans. It was also intended to produce other vehicles.

He stated, “We have designed the line to provide head space above and beyond Amazon’s requirements.” That’s why we can access other areas within the van commercial space.

Scaringe stated that he did not intend to increase his social media presence in a way similar to Tesla CEO Elon Tesla, whose tweets (NYSE:) have been heavily followed. He stated that Rivian will focus his marketing efforts on customer experiences and events.