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The company could go public as early as September, according to the report, valued at $ 50 billion The news comes a few weeks after Rivian raised $ 7 billion in one of T Rowe Price

Michigan-based Rivian makes electric trucks and SUVs The company has raised approximately $ 8, Crunchbase says it has funded 2 billion from investors including Amazon and Ford Motor Co

The news comes as more eyes are on the EV market, between Tesla stock’s performance last year – its stock price is up more than 427 percent over the past 12 months – and the announcement that it is Companies like Ford and GM are doubling down on EV

Funding for venture-backed electric vehicle companies was $ 7 billion last year, with Rivian’s $ 2 billion private equity round, according to Crunchbase data, making the largest EV funding round of the year 2020

Rivian’s public debut would follow a handful of other electric vehicle manufacturers, including Chinese EV maker Li Auto, which went public through an IPO, and Nikola Motor Cothat went public through a special purpose vehicle

Bloomberg reported that while Rivian could go public as early as September, it could be postponed later in the year or in 2022

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World News – United States – Rivian is reportedly considering going public in 2021