Rivian’s IPO filing reveals 48,000 preorders and factory production capacity

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Electric truck startup Rivian filed documents for an IPO on Friday that ultimately revealed the number of reservations it had for its R1T pickup and R1S SUV.

According to the S-1 from the Amazon-backed company, she had received approximately 48,390 pre-orders as of September 30, each requiring a refundable deposit of $ 1,000.

The Rivian’s Normal, Illinois plant built its first production truck in September. (Bank)

Production of the $ 67,500 R1T began in September and at the automaker’s plant in Normal, Ill., Where the $ 70,000 R1S will go into production later this year.

Rivan is also building an electric delivery van for Amazon, called EDV, in the factory and has a contract to deliver 100,000 to the retail giant by 2025.

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The filing revealed that the plant is currently configured with the capacity to manufacture up to 150,000 vehicles per year, but that Rivian plans to expand it to 200,000 by 2023 and plans to add additional domestic production to as it will add models in the years to come.

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Rivian, who is largely pre-revenue, revealed he lost $ 1.02 billion in 2020 and $ 994 million in the first half of this year.

In August, Reuters announced that the company, which will trade under the ticker RIVN, will go public at a valuation of around $ 70 billion to $ 80 billion.


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