Amazon’s new delivery van
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Rivian Automotive, a company developing electric vehicles, including commercial delivery vans for Amazon, on Friday filed for an initial public offering on the Nasdaq. The company aims to trade on the Nasdaq under the ticker symbol “RIVN.”
The paperwork shows that Rivian reported having a $994 million net loss on zero revenue in the first six months of 2021.
Robert Scaringe, who has a Ph.D. from the Sloan Automotive Laboratory at the Massachusetts Institute of Technology, founded Rivian in 2009. The company is based in Irvine, Calif., with 6,274 employees at. the end of June.
Amazon and Ford each own over 5% of the company. Peter Krawiec, Amazon’s senior vice president of worldwide corporate and business development, sits on Rivian’s board.
