Electric-Vehicle Firm Rivian To Seek $70 Billion Valuation

Rivian, an electric truck start-up is speculated to target $70 Billion in a public listing later in 2021. After an investment of $2.65 Billion led by T.Rowe Price, it was valued at $27.6 Billion. The platform is also backed by big players like Ford and Amazon, the latter of which had recently bet $700 million on the platform as a rival to Tesla. Rivian has some marquee advisors onboard like JP Morgan, Goldman Sachs, and Morgan Stanley on its initial public offering (IPO).  

Rivian works with the agenda of providing a sustainable way of exploring the world with its collection of sustainable SUVs. It raised $2.5Billion in July 2020 from Amazon and BlackRock.  They seek to work as a role model for other companies to emulate.