Amazon.com Inc AMZN and Ford Motor Co F-backed electric vehicle maker Rivian’s CEO RJ Scaringe on Sunday showed off its electric pickup truck R1T wading through a pool of water.
What Happened: In a short video — that lasts 39 seconds — posted on Twitter, Scaringe reveals a pick-up truck navigating a water-filled track with engineers inside the vehicle.
Scaringe has lately taken to sharing updates related to Rivian on social media in a similar fashion to Tesla Inc TSLA CEO Elon Musk, who enjoys wider popularity.
See Also: Tesla EV Rival Rivian Said To Tell Buyers It's On Track For September Deliveries
Why It Matters: The social media update comes ahead of Rivian’s plans to begin deliveries of its electric pickup truck R1T in September after a two-month delay. R1S deliveries have been pushed back to fall.
The pre-production electric vehicle startup said last week it has confidentially filed documents for an initial public offering that is expected to value the company at around $80 billion.
The valuation estimate drew a sharp reaction from Musk on Twitter, who said "maybe they should be required to deliver at least one vehicle per billion dollars of valuation *before* the IPO."
Price Action: Amazon shares closed 1.01%vhigher at $3,349.63 on Friday.
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Photo: Courtesy of Rivian
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