Tesla rival Rivian aims for IPO this year

Electric-vehicle startup Rivian, which is backed by Amazon.com Inc and Ford Motor Co, is looking to go public as soon as…

September at a valuation of about $50 billion or more, Bloomberg News reported on Tuesday.

Rivian has been in talks with bankers about its plans, but the company’s timeline for an initial public offering isn’t final and a listing could happen later in the year or next year, Bloomberg News reported, citing people familiar with the matter.

The company declined to comment.

Rivian, which aims to put an electric pickup and SUV in production this year, announced last month a…

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