This $1.3 Billion makes a total of $2.85 Billion invested
Rivian just announced an additional $1.3 billion invested into their company today. This additional investment makes Rivian’s total investments orbit around 3 billion dollars – so far. Advised by T. Rowe Price Associates, Inc and funds managed by BlackRock – investments also came in from Amazon and Ford Motor Company.
“This investment demonstrates confidence in our team, products,
technology and strategy – we are extremely excited to have the support
from such strong shareholders,” said Rivian Founder and CEO RJ
Rivian’s claim of fame comes from their high capacity batteries, modular skateboard platform and innovative designs. With these additional investments and fleet EV Rivan van slated to be delivered in 2021, Rivian is on track to challenge the whole industry.
Rivian investments in 2019
(Note: Rivian debuted its pickup truck at the 2018 Los Angeles Auto Show. Investments began to pour in.)
- February 2019: Rivian announced a $700 million in funding via Amazon.
- April 2019: Rivian announced that Ford Motor Company invested $500 million (both companies will share technology too).
- September 2019: Cox Automotive invests $350 million in Rivian.
- Late September 2019: Rivian announced it was collaborating
with Amazon on building 100,000 EV delivery vans.
There were no further details, but we know for a fact that Rivian has test vehicles roaming the United States. In time, we will have further updates.