It’s the Michigan-based automaker’s fourth major investment round this year, raising its 2019 total to US$2.85 billion. This round’s investors included T. Rowe Price, Amazon, Ford and funds managed by BlackRock. (Bloomberg)
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It’s the Michigan-based automaker’s fourth major investment round this year, raising its 2019 total to US$2.85 billion. This round’s investors included T. Rowe Price, Amazon, Ford and funds managed by BlackRock. (Bloomberg)
Talking point: Rivian, which was founded in 2009, aims to launch a plug-in pickup and SUV late next year. Amazon ordered 100,000 delivery vans from the firm as part of a push to reduce company-wide carbon emissions—the biggest such order for commercial electric vehicles in the U.S. to date. Ford plans to use Rivian’s “skateboard”—a platform that combines an electric motor and battery technology to model a variety of electric pickup and sport utility styles—for a new battery-electric vehicle of its own. Prior to Monday’s funding announcement, Rivian had raised US$2.2 billion from investors, and was valued at between US$5 billion to US$7 billion. The company’s valuation after the latest round is unclear.
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