Rivian lands another $2.5 billion in investments

10 Juillet, 2020, 20:23 | Auteur: Auguste Feret

The company said Friday that investors in this round include Soros Fund Management, Coatue, Fidelity Management and Research, and Baron Capital Group.

Existing shareholders Amazon and BlackRock-managed funds also took part.

No new board seats have been added, and additional details about this investment are not being disclosed at this time. With all three launches occurring in 2021, our teams are working hard to ensure our vehicles, supply chain and production systems are ready for a robust production ramp up.

The investment announcement is Rivian's first in 2020.

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In 2019: -In February, Rivian announced a $700 million funding round led by Amazon. More deals and investments would follow, including a $500 million investment from Ford - along with a promise to collaborate on a future EV program - a $350 million investment by Cox Automotive in September. Rivian is preparing its factory in Normal, Illinois to assembly its R1T electric pickup truck and the R1S SUV as well as begin to fulfill its order with Amazon to deliver electric vans.

Electric vehicle startup Rivian, which is backed by Amazon and Ford and aims to put an electric pickup and SUV into production in 2021, boosted its fortunes further with a $2.5 billion investment round led by T. Rowe Price, Rivian said Friday.

About Rivian Rivian has developed and vertically integrated a connected electric platform that can be flexibly applied to a range of applications including the company's adventure products as well as B2B products such as the Amazon last mile delivery vans.

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