Rivian has filed confidential paperwork with the Securities and Exchange Commission for an initial public offering.

The Amazon-backed electric vehicle startup is reportedly seeking a valuation of approximately $80 billion and could look to go public as soon as Thanksgiving (November 25), Bloomberg reports. Rivian itself has yet to determine the size and price range of the proposed offering.

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Goldman Sachs is leading the offering and if it were to be valued at $80 billion, that would place it above Ford and General Motors, quite remarkable when you consider that Rivian has yet to actually start customer deliveries of its vehicles.

However, Rivian has proven to be extremely popular among institutional investors in recent years. In fact, it has raised $10.5 billion since 2019. A large portion of these funds come from Amazon’s Climate Pledge Fund, D1 Capital Partners, T Rowe Price, and Ford Motor Company. Rivian most recently raised $2.5 billion in a financing round that ended in late July, coming just six months after it raised $2.65 billion from the same pool of investors.

Rivian recently announced that it is ready to quick off customer deliveries of the all-electric R1T pickup truck and is simply waiting on government approval. As it ramps up production, deliveries of the R1S SUV will also commence while next year, Amazon will start to receive the first of the 100,000 delivery vans that it ordered from Rivian.

The car manufacturer shows no signs of slowing down its footprint either. In fact, it is actively looking to establish a second factory in the United States and is also looking to set up a production site in Europe.