EV Start-up Rivian Brings Out First Electric Pickup

EV Start-up Rivian Brings Out First Electric Pickup

September 15, 2021

Rivian Automotive Inc., the electric vehicle business backed by Amazon and Ford, has launched its first R1T pickup for a customer. The electric vehicle start-up has now become the first automaker to bring an electric pickup to the consumer market.

Rivian founder and CEO RJ Scaringe said the first pickup drove off the assembly line on Tuesday at its plant in Normal, Illinois.

Scaringe tweeted, “After months of building pre-production vehicles, this morning our first customer vehicle drove off our production line in Normal! Our team’s collective efforts have made this moment possible. Can’t wait to get these into the hands of our customers!”

Scaringe also shared the photos of the event that show workers cheering with several vehicles on the assembly line.

The launch comes days after Irvine, California-based Rivian filed confidential paperwork with the Securities and Exchange Commission for an IPO. Bollomberg in late August had reported that the company was seeking a valuation of about $80 billion in the IPO. The size and price range of the proposed offering is yet to be determined.

Rivian, which was founded in 2009, reportedly has raised around $10.5 billion since 2019. The company is also building an electric sport utility vehicle.

Amazon announced its investment in the company in February 2019, and Ford in April that year. In September 2019, Amazon also ordered 100,000 electric delivery vans from Rivian, as part of a plan to convert its delivery fleet to 100% renewable energy by 2030.

Early this month, Rivian had announced its intention to invest $5 billion in a Texas project to make its second manufacturing plant.

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