Amazon, an early backer of electric truck maker Rivian, has updated its ownership in the company. RIVIAN IPO COULD BE VALUED AT AROUND $80BT AROUND $80BRivian, which is planning an initial public offering, could be valued at around $80 billion, according to reports. That is in line with the market value of General Motors and Ford at $79 billion and $67 billion, respectively. Ford, which is also a backer of Rivian, weighed in on the IPO earlier this week. "In the event Rivian completes an IPO, Ford will record any gain on its investment in Rivian and subsequent adjustments as special items.

Source: Fox News October 29, 2021 20:28 UTC