Rivian Automotive Inc., a producer of electric pickup trucks backed by Amazon.com Inc., has filed for an initial public offering and is seeking a valuation of around $80 billion, according to sources familiar with the matter.

In a statement issued Friday, the Irvine, California-based business confirmed that it has submitted its S-1 registration to the Securities and Exchange Commission, confirming a previous story by Bloomberg News.

 According to the sources who requested not to be identified since the filing was private, the company would seek to launch an IPO around the Thanksgiving holiday on Nov. 25. The time will be determined by the SEC’s clearance.

If Rivian goes public at $80 billion in market value, it will be one of the year’s largest debuts on that basis. Rivian is one of the most serious challengers lined up to take on electric-car leader Tesla Inc., with $10.5 billion funding from investors like Amazon and Ford Motor Co., an established plant in Illinois, and thousands of reservation holders for its R1T truck and R1S sport utility vehicle.

The quantity and pricing range of the potential offering has yet to be established, according to Rivian’s statement. Bloomberg News reported in May that Goldman Sachs Group Inc., JPMorgan Chase & Co., and Morgan Stanley are advising the firm on its initial public offering.

Despite having a who’s who of supporters, the firm has failed to deliver any vehicles to retail consumers and has had several delays in manufacturing. The Covid-19 epidemic has caused supply-chain delays and components shortages, forcing Chief Executive Officer R.J. Scaringe to repeatedly postpone model releases.

Despite this, the firm has big aspirations. Bloomberg News reported in February that it is investigating areas for a European manufacturing facility and is in negotiations with the city of Fort Worth, Texas, about investing at least $5 billion in a second U.S. assembly factory.