Electrical automobile maker Rivian, backed by Ford and Amazon, filed for an preliminary public providing on Friday on the Nasdaq alternate. The corporate filed its IPO confidentially with the Securities and Change Fee in August, and it was made public right now.

According to the S-1 filed with the SEC, Rivian had a web lack of $994 million on income of zero for the primary half of 2021. Its web loss for full yr 2020 was $1.02 billion, the submitting reveals. The corporate expects to commerce beneath the ticker image RIVN.

“We are a development stage company and have not generated material revenue to date,” Rivian writes within the submitting. “Vehicle production and deliveries began in September 2021.” We just lately tried its first shopper automobile, the R1T electrical pickup truck, and right now’s submitting says the corporate plans to launch its first SUV, the R1S, in December.

Rivian says it has pre-orders for simply over 48,000 of the R1T and R1S within the US and Canada. The preorder prospects had paid totally refundable deposits of $1,000 every, and that’s the corporate’s solely income thus far.

Rivian expects its income initially to return largely from Amazon, the submitting reveals; “In the near term… we expect that a significant portion of our revenue will be from Amazon Logistics.” Each Amazon and Ford personal greater than 5 % of Rivian, and Peter Krawiec, a senior vp at Amazon, is on Rivian’s board of administrators.

Rivian entered into an settlement with Amazon in 2019, and the submitting reveals that beneath the phrases of that settlement, Rivian agreed to collaborate with Amazon’s Logistics section “to design, develop, manufacture, and supply [electric delivery vans]… for use in Amazon’s last-mile delivery operations.” Amazon has some unique rights to Rivian’s electrical supply vans (EDVs) for 4 years, and proper of first refusal for 2 years after that. The corporate says it doesn’t count on to ship its electrical supply vans till December as effectively.

The R1T was first displayed on the 2018 Los Angeles Auto Present, and has suffered a number of delays.

The corporate has raised over $10 billion in funding thus far, one quarter of that from a current spherical of funding in July.

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