Electric vehicle startup Rivian is on track to be the largest initial public offering of the year. The automaker has sold 153 million shares, raising $11.9 billion. Shares of Rivian will begin trading today under the ticker symbol RIVN.

Not only is the Rivian IPO big by 2021 standards, but it’s record-holding in general. It is currently listed as the sixth-largest IPO ever on a U.S. exchange. This record is aided by the fact Rivian says it sold its shares for an average of $78 per share, which is significantly above its target price of $72-$74 per share. Given the share price, Rivian now appears to be valued at $76.4 billion.

Bloomberg estimates around $5 billion of Rivians shares were acquired by its largest shareholders. This list includes big names such as Amazon, T. Rowe Price, Coatue Management, Franklin Templeton, Capital Research Global Investors, D1 Capital, Third Point Investors, Blackstone Inc., Dragoneer Investment Group and Soros Funds. Around 7 percent of its shares have been allocated to customers who had pre-orders of the company’s vehicles prior to September 30, 2021.

Rivian recently commenced production of its first consumer vehicle, the R1T pickup truck at its plant in Normal, Illinois. Rivian is expected to produce only 1,200 copies of the truck by the end of this year. That said, the company asserts it will be able to produce 150,000 vehicles annually by the end of 2023.

An SEC filing indicates Rivian is expected to lose $1.28 billion in the third quarter, largely due to the costs of starting up production of the R1T.