Amazon-Backed Startup Rivian Starts Production of Electric Pick-Up – U.S News & World Report Money

(Reuters) – Inc-backed Rivian’s first electric pick-up has rolled off the production line, the company’s chief executive said on Tuesday.

This makes Rivian the first to bring an electric pick-up to the market, ahead of Tesla Inc, General Motors and other players.

“This morning our first customer vehicle drove off our production line in Normal,” founder and Chief Executive Officer RJ Scaringe said in a tweet, which included images of Rivian’s R1T electric pick-up truck at its plant in Normal, Illinois.

Tesla boss Elon Musk in July offered no timeframe for when the automaker would start mass production of its much-anticipated Cybertruck.

Rivian declined to comment beyond Scaringe’s tweet.

In August, Rivian said it has confidentially filed paperwork with regulators for an initial public offering. Two sources had told Reuters that the company will seek a valuation of around $70-80 billion at the time of its IPO.

(Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber)

Copyright 2021 Thomson Reuters.


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