Skip to Content
AP National Business

With high-profile backers, EV startup Rivian goes public

<i></i><br/>
KMIZ

By
Published 2:01 AM

By MATT OTT
AP Business Writer

SILVER SPRING, Md. (AP) — Shares in Rivian Automotive are set to trade publicly Wednesday, and the world should get a better idea of just how excited investors are about the electric vehicle market. Rivian, the EV startup backed by Amazon and Ford, hopes to raise about $12 billion. Rivian said it will use the money to ramp up production of its trucks, vans and SUVs. It’s the latest in what’s becoming a long line of companies trying to carve out some of Tesla’s dominant market share. With shares priced at $78 per share, it would give Rivian a market value of $66.5 billion. 

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

ABC 17 News is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content