Amazon plans to have 10,000 new Rivian electric delivery vans on the road by 2022 and 100,000 vehicles on the road by 2030.
Amazon / Jordan Stead
Rivian Automotive, an electric vehicle start-up backed by Amazon, announced Friday that it has filed a draft confidential registration form for a IPO.
The size and price range of the IPO have not been determined, the company said in a statement. Rivian did not immediately respond to CNBC’s request for comment.
The news comes months after Bloomberg reported that the company had selected Goldman Sachs, JPMorgan and Morgan Stanley as subscribers for its IPO and could seek a $ 70 billion valuation.
In recent months, the electric vehicle company has reportedly begun to increase production nationwide. The media reported last month that the company was planning a second electric vehicle assembly plant. The company’s existing US plant is located in Normal, Illinois.
Last month, the company also closed a $ 2.5 billion round of financing led by Amazon, Ford Motor and T. Rowe Price. Since 2019, Rivian has raised about $ 10.5 billion.
In September 2019, Amazon agreed to buy 100,000 Rivian electric vans. Earlier this year, the company began testing power supply vans in San Francisco and Los Angeles.
Shares of Amazon were flat during the morning trading, while shares of Ford rose more than 2%.