Rivian vehicles have received certifications from three agencies, the final hurdle that allows the electric automaker to sell and deliver its R1T pickup truck and R1S SUV in all 50 U.S. states.
Rivian confirmed to TechCrunch in an email that the vehicles are fully certified by the National Highway Traffic Safety Administration, the Environmental Protection Agency and the California Air Resources Board. Bloomberg also reported that Rivian has received regulatory approval to deliver vehicles to customers.
Rivian has a direct sales model, in which customers can order its vehicles online. Dealer protection laws in many states prohibit companies like Rivian from having its own stores, where customers can take test drives and learn about financing options. However, there are no restrictions from customers ordering online from those states.
Today, 22 states allow for all vehicle manufacturers to sell vehicles to customers, according to the NRDC. In those states, Rivian can set up stores, display vehicles, offer test rides and importantly discuss financing. Another 11 states allow for only Tesla, which also has a direct sales model, to sell vehicles, often in a limited number of locations throughout the state.
Rivian plans to begin deliveries of the R1T launch edition this month. Deliveries of the R1S SUV are expected to follow this year.
Confirmation of the certifications from the state and two federal agencies followed a trio of announcements in the past several weeks that , including the first production Rivian R1T electric pickup truck in “Rivian blue” rolling off the assembly line Tuesday morning at the company’s factory in Normal, Illinois. The company’s two vehicles also received official EPA ranges of 314 miles for the first edition version of its all-electric R1T pickup truck and 316 miles for the R1T SUV.
All of this follows Rivian confidentially filing paperwork with the U.S. Securities and Exchange Commission to go public. The company, backed by a host of institutional and strategic investors including Ford and Amazon, has not size and price range for the proposed offering.
Sources familiar with Rivian’s IPO plans said the company has not yet started the “roadshow,” a process in which an underwriting firm and company management make a series of presentations to potential investors before going public.
via Tingle Tech