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Rivian Plans to Launch its First Electric SUV – The R1S

Rivian filed for an IPO and plans to start protection for its first electric SUV R1S.

Rivian R1S SUV Electric Truck

Rivian, the Ford and Amazon supported electric vehicle-making company filed for an initial public offering (IPO) on Nasdaq, on Friday. The company initially filed its IPO confidentially with the Securities and Exchange Commission in August.

The company registered a net loss of $994 million for the first half of 2021. Its net loss for 2020 was $1.02 billion. Rivian expects to trade its shares using the symbol RIVN.

Rivian began its production for the electric vehicles in September and simultaneously started deliveries. We already have the Rivian R1T electric pickup truck and are now expecting to see the R1S, which is the company’s first SUV.

The company already has over 48,000 pre-orders for the R1T and R1S in the US and Canada. Being a major stakeholder, Rivian expects to receive a good amount of orders from Amazon and Ford.


Alexia Hope

Alexia is the author at Research Snipers covering all technology news including Google, Apple, Android, Xiaomi, Huawei, Samsung News, and More.