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Rivian R1T electric truck. Photo: Rivian

Rivian, the well-financed electric vehicle startup, on Friday said it had filed plans to go public with securities regulators.

Driving the news: The plans for a public listing come as the company prepares to launch deliveries of its pickup truck next month, with plans to start delivering its SUV this fall.

  • The Michigan-based startup also has a large deal with Amazon to build up to 100,000 electric delivery vehicles this decade.
  • Bloomberg, citing sources familiar with the plan, reports that Rivian is hoping to do an IPO around the Thanksgiving timeframe and hopes for a $80 billion valuation.

The big picture: The company is well-capitalized. Rivian's financial backers include Ford and Amazon, with its recent $2.5 billion funding round bringing the total amount raised above $10 billion.

  • It's also breaking from the pack of EV startups going public with apparent plans to eschew listing via merger with a special purpose acquisition company, the route many others are taking.

Go deeper

Updated Oct 21, 2021 - Technology

Trump says he plans to launch new social media network in 2022

Photo: Chris Delmas/AFP via Getty Images

Former President Trump on Wednesday announced plans to launch a social media network called "Truth Social," and said that it would go public via a SPAC.

Why it matters: Most ex-presidents are focused on their legacies, by creating presidential libraries or engaging in philanthropic endeavors. Trump, however, remains consumed by social media.

Dan Primack, author of Pro Rata
Oct 21, 2021 - Politics & Policy

Trump's new venture could be peak SPAC

Illustration: Sarah Grillo/Axios

Former President Trump last night announced plans to launch a digital media network called "Truth Social," and said it would go public via a SPAC called Digital World Acquisition (Nasdaq: DWAC).

What to know: So far, this is a joke. The press release didn't contain even basic information, such as the new company's CEO. In fact, the only execs mentioned are Trump (as chairman) and veteran TV producer Scott St. John as head of a subscription streaming service.

2 hours ago - Sports

Unvaccinated athletes face 21-day quarantine at Beijing Olympics

Logos for the 2022 Winter Olympics at Yanqing Ice Festival in February 2021 in Beijing. Photo: Lintao Zhang/Getty Images)

Athletes, staff members and journalists at the 2022 Beijing Olympic and Paralympic Winter Games who have not been vaccinated against the coronavirus will be required to quarantine for three weeks, the International Olympic Committee (IOC) outlined in its newly-published "playbooks."

Why it matters: The quarantine period is longer than the Games themselves, meaning vaccinations or an earlier arrival date will be required to participate in or cover the Games.