Electric vehicle maker Rivian, backed by Ford and Amazon, filed for an initial public offering on Friday on the Nasdaq exchange. The company filed its IPO confidentially with the Securities and Exchange Commission in August, and it was made public today.
According to the S-1 filed with the SEC, Rivian had a net loss of $994 million on revenue of zero for the first half of 2021. Its net loss for full year 2020 was $1.02 billion, the filing shows. The company expects to trade under the ticker symbol RIVN.
“We are a development stage company and have not generated material revenue to date,” Rivian writes in the filing. “Vehicle production and deliveries began in September 2021.” We recently tried its first consumer vehicle, the R1T electric...
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