The filing said Amazon had plowed $1.35 billion into Rivian through stock investments and $490 million by purchasing the notes sold in July. Rivian has over $10 billion in investments from Amazon, Ford Motor and several Wall Street firms. “Keep the world adventurous forever,” the company proclaims in its I.P.O. Rivian, founded in 2009, makes an upscale pickup truck and a sport utility vehicle, both designed to be driven off-road. They are chasing Tesla, which, though it went through many precarious years, has become the most valuable automaker in the world by far. Rivian is one of many start-ups hoping to capture a share of the electric vehicle market, which is expected to grow exponentially over the next two decades. Amazon, which has a contract to buy 100,000 delivery vehicles from Rivian, has invested over $1.8 billion in the company, according to the filing. And the company said it expected to spend roughly $8 billion on facilities and equipment through the end of 2023. In filings to the Securities and Exchange Commission, Rivian said that it had lost $2 billion since the start of last year, underscoring the costs and risks of developing electric vehicles. Rivian, an electric truck maker backed by Amazon and Ford Motor, on Friday revealed huge losses and a voracious need for cash as it headed into one of the most anticipated initial public offerings of the year.
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