A closer look at the state of Irvine electric vehicle maker Rivian Automotive Inc. has been revealed with the company’s initial public offering documents filed with the Securities & Exchange Commission Friday.
The automaker, backed by Amazon.com Inc. and Ford among many other big-name investors, began vehicle deliveries in mid-September.
It recorded a net loss of $426 million in calendar year 2019, followed by a net loss of $1 billion in 2020. The company said it’s made “minimal revenue” from its R1T truck and no other revenue from any other vehicles.
Rivian, which filed a confidential draft registration statement in late August, did not provide details on pricing and listed a $100 million placeholder amount in its filing.
The stock would be listed on the Nasdaq under the ticker RIVN.
For more details on the company’s IPO plans, see the Oct. 11 print edition of the Business Journal, which includes the OCBJ’s annual automotive special report.