Rivian Automotive Inc., the electric-vehicle startup backed by Amazon.com Inc. and Ford Motor Co., is trying to go public as quickly as September at a valuation of about $50 billion and maybe extra, in accordance with individuals conversant in the matter.

The corporate’s timeline for an preliminary public providing isn’t last and an inventory might occur later within the 12 months and even slip to 2022, mentioned the individuals, who requested to not be recognized discussing personal data. Rivian has been talking to bankers about its plans, one of many individuals mentioned.

Rivian, has raised greater than $8 billion to this point from buyers who anticipate its battery-electric pickup and SUV to carry out nicely within the U.S. market. At a $50 billion valuation, it could probably be one of many greatest IPOs of the 12 months and some of the noteworthy EV listings since Tesla Inc.’s 2010 providing.

The startup was valued at $27.6 billion in a funding spherical in January, Bloomberg Information reported. Rivian raised $2.65 billion in the round from a bunch of buyers led by T. Rowe Worth Group Inc. Additionally in January, Claire McDonough, a former JPMorgan Chase & Co. govt, turned Rivian’s chief monetary officer.

A consultant for Rivian declined to remark.

Rivian has greater than 3,600 workers break up throughout places of work in Michigan and California and its manufacturing facility in Illinois.

Rivian additionally has a deal with Amazon to construct 100,000 customized electrical supply vans by 2030. Within the near-term, the businesses say 10,000 of the vans will likely be on the highway making deliveries by 2022. Rivian will construct three completely different fashions of the van, which is able to going about 150 miles on a single cost.

Manufacturing and U.S. deliveries of its debut client EV, the R1T pickup, are because of begin in June. The corporate will then begin delivering its R1S SUV in August. The corporate has retrofitted a former Mitsubishi Motors plant in Regular, Unwell., the place it additionally plans to construct the EV supply van for Amazon.