The electric vehicle maker Rivian is being backed by Ford and Amazon. The companies have filed to go public at an $80-billion valuation. This deal sparked to compete against its leading contender Tesla, Rivian is planning to deliver its first vehicle next month.
The electric automation industry is diversifying a new frontier in the American EV market. Car manufacturers are racing against each other to become more substantial as per the emission goals set by multiple countries that will largely support electric vehicles compared to traditional gas-powered engines in the upcoming future.
Rivian has raised $10.5 billion plans to set up its new plant in Texas. The pickup war is on full throttle as other car manufacturers are like GMC is stated to release its electric Hummer by year-end. However, Tesla has been ahead for now with its Cybertruck initially scheduled to launch this year.
It is an exciting race to follow to see who will come out on top. It is expected for Rivian to boom its sales after the backup provided by Ford and Amazon.