Rivian Automotive Inc., the electric-truck startup backed by Amazon.com Inc., has selected underwriters for an initial public offering that could come later this year, according to people familiar with the matter.
Rivian is working with advisers including Goldman Sachs Group Inc. JPMorgan Chase & Co., and Morgan Stanley, said the people, who asked to not be identified because the matter isn’t public. Rivian could seek a value of about $70 billion when it goes public, according to the people. Bloomberg News previously reported it could seek a valuation of about $50 billion.
