Irvine-based Rivian has filed for an initial public offering that would allow the electric truck manufacturer to raise money from public investors.
The startup is seeking about $80 billion in valuation, Bloomberg reported, which could make it one of this year’s biggest IPOs. Industry experts consider Rivian among serious competitors to take on Tesla.
Its upcoming R1T pickup boasts 400 miles of driving range and, according to Car and Driver magazine, is “primed to set the automotive world on its head.”
Rivian has raised $10.5 billion from backers, including Amazon and Ford Motor Co., according to Bloomberg.