Rivian, the electric vehicle manufacturer, who is backed by Amazon, is aiming to raise between $5bn and $8bn through their IPO according to Reuters. Proceeds from their IPO look set to fuel expansion away from their plant in Illinois. If Rivian, dubbed the ‘Tesla Killer’ by some, hit their targets, it would make it the fourth largest offering in the past decade in the US. Read more here.
The Ford F150 has been the top selling vehicle in any category in the US for decades. Commentators are calling this the most significant EV launch since the Tesla Model S and it is firmly targeted at US consumers while demonstrating Ford’s intention to electrify its whole range. The OEM is promising is promising a driving range of up to 230 miles on the standard battery and 300 miles for the extended model. Click here for more details.
Over the weekend, Mercedes-Benz announced their plans to move to an “emission-free and software driven” future. By 2022, the OEM will have battery electric vehicles (BEV) in all segments and from 2025 onwards, all newly launched vehicle architectures will be electric-only and customers will be able to choose an all-electric alternative for every model the company makes. Click here to read their press release.
A division of NIO, NIO POWER have announced they intend to have 5000 battery swap stations, globally, by the end of 2025 with 1000 of these outside of China. Currently, the EV manufacturer operate 301 stations focused around their innovative Battery-As-A-Service (BaaS) proposition. Click here to read more.