The electric car firm Rivian is ready to go public: it aims at 80,000 million dollars

The stock market for electric car brands can become a hive of news. Today we have learned what Rivian's intentions are for its official launch on the stock market. This Irivine-based firm has confidentially filed a draft registration statement with the SEC (Securities and Exchange Commission) where it intends to obtain an offer for its shares.

It has been Bloomberg who has uncovered one of the biggest secrets on the part of Rivian. And it is that from the American magazine, they conducted some interviews with people specialized in this matter, so that they were able to find out what the capitalization that the automobile firm would reach in its launch on the stock market, where the sights are set on reaching a ceiling of 80 billion dollars.

This figure is presumed to be considerably high if we look at the fact that we are dealing with a car manufacturer that has not yet delivered any units of its cars. In fact, if a capitalization of this level really occurs, we would be facing the sixth most valuable vehicle firm in the world, above General Motors, the current queen of the United States, which currently reaches an amount of 72.6 billion of dollars.

From Rivian, they reportedly already sought a $70 billion valuation with their IPO (Initial Public Offering) last May. Precisely for this reason, from the firm, they think that currently their valuation is much higher, which is why they believe it is feasible that their valuation is at least 10 billion extra dollars.

Dear Giants, How to Get Rid of Your Bad Reputation: https://t.co/jdXNfhB1ga or Just start winning again With lo… https://t.co/Jz77iYoNca

— bittergiantsfan 🥃 ⚾️ Sun Jun 04 01:50:28 +0000 2017

From Rivian they can boast of having several important sponsors of their business project, among which are: Ford, Amazon and Cox Automotive. Between the three firms they add an investment of more than 10,500 million dollars since Rivian opened its doors at the beginning of 2019.

The firm avoided using a SPAC (Special Purpose Acquisition Company) to go public, something that most companies in the automotive sector chose to do, in order to facilitate things. According to Rivian, the IPO should be ready as soon as the SEC completes its review process and subsequent approval. This is expected to happen throughout the month of November. After all this we see the hand of Rivian acting as they have always done, without big previous announcements and only making their intentions known when their projects are practically finished and ready to be launched. This is one of the reasons why its three largest investors (Ford, Amazon and Cox Automotive) put their trust in this brand.

With the amount raised, Rivian plans to establish two new factories, in addition to the one it already owns in Illinois, United States. These future factories would be established, a first in their country of origin (USA), more specifically in the State of Texas; while its second factory will be installed in Europe in order to expand the marketing of its models, although, as of today, the location they can choose in the old continent is not clear, but the preferences are between Germany and the Netherlands.

Currently, the main sights for Rivian are set on making the first deliveries of its Rivian R1T Launch Edition, which they hope will happen during this same month of September. To see the first deliveries of other model finishes, we will have to wait until early 2022, while to see vehicles signed by Rivian in Europe, they have not yet confirmed when they will make the official landing. However, the firm has contacted certain clients (the most mediatic) to inform them that their delivery will take place before the end of the year.