Rivian

Rivian

Irvine electric vehicle maker Rivian Automotive LLC on Friday confirmed it has filed plans to go public in an announcement sent to the Business Journal.


The company filed a confidential draft registration statement to the Securities & Exchange Commission for an initial public offering.


Reports had surfaced earlier in the year the electric automaker was looking to go public some time in the fall with the most recent valuation tied to the company at about $80 billion. 

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A report from Bloomberg said the company wants the IPO to hit the market around Thanksgiving. 


Rivian said pricing and other details of the IPO are still being determined.


The company, which is backed by Amazon.com Inc. among other investors, has raised some $10.5 billion in funding with deliveries of its first vehicle set to begin in September.