Previous investor T. Rowe Price Associates led the round. Others included Soros Fund Management, Coatue, Fidelity Management and Research Company, Baron Capital Group and existing shareholders Amazon and BlackRock. (CNBC)
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Previous investor T. Rowe Price Associates led the round. Others included Soros Fund Management, Coatue, Fidelity Management and Research Company, Baron Capital Group and existing shareholders Amazon and BlackRock. (CNBC)
Talking point: The round follows an active 2019 for the company that brought in US$2.85 billion in funds through a series of investments. Rivian has a contract with Amazon to build a total of 100,000 electric delivery vans by 2030 at its factory in Illinois. It is also expected to be among the first to roll out an all-electric pickup truck next year. CEO Robert Scaringe told CNBC last month that Rivian had no plans to go public, but welcomed additional financing to support its “aggressive growth plans,” noting the company was “seeing demand being significantly higher than what we initially anticipated, which is leading us to capacitive for higher levels of volume.”
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