Rivian, a maker of electric vehicles, has filed to trade on Nasdaq under the symbol RIVN.
(Photo courtesy of Rivian’s website) Rivian, an electric vehicle manufacturer, has filed to trade on Nasdaq under the symbol RIVN. Rivian, an electric vehicle manufacturer, has filed to trade on Nasdaq under the ticker RIVN. The company is more than just another modest electric vehicle manufacturer; it is backed by two major corporations.
Rivian is preparing to list on Nasdaq.
Rivian, an electric vehicle manufacturer, is now backed by both Ford and Amazon, according to The Verge. According to reports, the company has registered for an IPO on the Nasdaq stock exchange. It actually filed a confidential IPO with the Securities and Exchange Commission in August 2021, which was only recently made public.
Rivian reported a net loss of $994 million on zero revenue in the first half of 2021, according to an S-1 filing with the Securities and Exchange Commission. According to the statement, the company’s significant net loss for the year 2020 was a stunning $1.02 billion.
Rivian will be able to trade under the RIVN.
Currently, the business expects to trade under the ticker symbol RIVN. It states in a filing that it is still in the development stage and has not yet been able to produce significant revenue. Lucid Air EVs, built on the company’s AMP-1 production line, will begin shipping in October 2021.
Vehicle manufacture and deliveries began in September 2021, according to reports. According to The Verge, they checked out the R1T electric pickup truck, and according to today’s filing, the business plans to release its first SUV, the R1S, in December 2021.
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In the United States and Canada, ivian says it has pre-orders for slightly over 48,000 of the R1T as well as the R1S. Pre-order clients have already paid $1,000 completely refundable deposits, and this is the company’s primary source of revenue thus far.
According to the filing, Rivian now expects Amazon to be its primary source of revenue at first. According to the filing, Amazon Logistics is expected to contribute a major share of income in the near future.
Also read: Ford Mustang Mach-E Recalls 5,000 Models | Falling Glass Roof Similarly to Tesla. Amazon and Ford are two of the most well-known companies in Owns 5% of RivianAmazon and Ford, according to reports. News from Brinkwire in a nutshell.