Rivian, an EV startup with big backers, files to go public

Rivian, an electric vehicle startup backed by Amazon, Ford, and other deep-pocketed investors, confidentially filed to become a publicly traded company. The size of the initial public offering has yet to be determined, but the company has created a lot of buzz. Rivian last year raised $2.5 billion from accounts advised by investment firm T. Rowe Price and it has become a standout amid fledgling EV start-ups. The company has a contract with Amazon to build 100,000 electric delivery vans starting this year at its factory, a former Mitsubishi plant in Normal, Illinois. Rivian also is rolling out a pickup truck and an SUV.