According to people familiar with the matter,AmazonsThe supporting electric vehicle startup Rivian is preparing to go public in the fourth quarter and hopes to raise up to $8 billion through this IPO.

Rivian secretly submitted an IPO application last month. If its financing scale reaches 8 billion US dollars, it will be the fourth largest US IPO in 10 years.

Since 2019, Rivian has raised $10 billion, making it one of the most funded startups in the US. The company's IPO will enable it to expand its business, adding additional production capacity beyond its plant in Normal, Illinois.

The day before, Rivian's first R1T electric pickup came off the production line at the Normal plant in Illinois, marking that the company became the first company in the world to bring an electric pickup truck to the market, leading the wayTesla, GM, and other competitors.