Rivian, in which online store Amazon has a 20 percent stake, will sell 153 million shares at the IPO at a price of $78 each. That is more shares than previously envisaged and also a higher price per share than previously indicated. According to Rivian, there was great interest from investors in the pieces.
Amazon shareholder and customer
Amazon is the company’s largest customer with an order for 100,000 electric vans. The first 10,000 vans must be delivered to the web store giant before the end of next year.
Amazon also wants to use Rivian’s delivery buses in the Netherlands.
The California company will also produce an electric pickup truck. It will be delivered to customers from the end of this year.
Possibly to Europe
Founded in 2009, Rivian has a factory in the state of Illinois and is also said to be looking at a factory in Europe, possibly in the United Kingdom. In addition, the company would like to build a new factory in Texas. It would have to invest at least $5 billion in it.
In total, Rivian is now worth more than $76 billion. The company is listed on the Nasdaq technology exchange. Automaker Ford is also a backer of Rivian.