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Amazon-backed startup Rivian starts production of electric pick-up

(Reuters) - Amazon.com (NASDAQ:AMZN) Inc-backed Rivian's first electric pick-up has rolled off the production line, the company's chief executive said on Tuesday. This makes...
Amazon-backed startup Rivian starts production of electric pick-up © Reuters. FILE PHOTO: The logo for electric vehicle startup Rivian is seen on the hood of its new R1T all-electric truck in Mill Valley, California, U.S., January 25, 2020. REUTERS/Nathan Frandino

(Reuters) - Amazon.com (NASDAQ:AMZN) 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 (NASDAQ:TSLA) Inc, General Motors (NYSE:GM) 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 https://twitter.com/RJScaringe, 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.

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22-09-2021 09:56:19 (UTC+7)

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 EUR/USD1.1725Neutral
 GBP/USD1.3661↑ Sell
 USD/JPY109.43Buy
 AUD/USD0.7250↑ Buy
 USD/CAD1.2792↑ Sell
 EUR/JPY128.30Buy
 EUR/CHF1.0834↑ Buy
 Gold1,779.45↑ Buy
 Silver22.805↑ Buy
 Copper4.2245Buy
 Crude Oil WTI71.14↑ Buy
 Brent Oil74.89↑ Buy
 Natural Gas4.843↑ Buy
 US Coffee C183.70↑ Buy
 Euro Stoxx 504,097.51↑ Buy
 S&P 5004,354.18↑ Sell
 DAX15,348.53↑ Buy
 FTSE 1006,980.98↑ Buy
 Hang Seng24,221.54Neutral
 Small Cap 20002,190.36↑ Sell
 IBEX 358,756.00Neutral
 BASF62.280↑ Sell
 Bayer45.70↑ Buy
 Allianz187.45↑ Buy
 Adidas281.90↑ Sell
 Lufthansa8.377↑ Sell
 Siemens AG145.32↑ Sell
 Deutsche Bank AG10.095Buy
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