Electric-vehicle firm Rivian could seek $70 billion valuation in IPO- Bloomberg News

FILE PHOTO: The logo for electric vehicle startup Rivian is seen on the hood of its new R1T all-electric truck in Mill Valley, California, U.S., January 25, 2020. REUTERS/Nathan Frandino

(Reuters) -Electric-truck startup Rivian Automotive Inc could target a valuation of about $70 billion in its potential public listing later this year, Bloomberg news reported on Friday.

Amazon.com Inc and Ford Motor Co-backed Rivian had a valuation of $27.6 billion, Reuters reported in January, after a $2.65-billion investment round led by T. Rowe Price.