Electric automaker Rivian is seeking to go public with an IPO valuation of more than $50 billion.
According to a report by Bloomberg, Rivian has been in discussions with banks about the possible IPO, but has not settled on a timeline. Sources familiar with the matter said it could happen as early as September or as late as next year.
A September IPO would happen just after the launch of the company’s first two electric vehicles (EVs). First is the R1T pickup truck, with the most expensive Launch Edition scheduled to begin deliveries in June. That will be followed by the first deliveries of the Launch Edition R1S SUV in August.
Rivian recently completed a $2.6 billion investment round last month, led by T. Rowe Price leading to a valuation of around $25 billion. That brings the total amount of money raised by the startup since 2019 to $8 billion.