Rivian Raises $ 2.5 Billion in New Financing Round Led by Amazon, Ford

Rivian Automotive Inc. RJ Scaringe, the founder and CEO of RJ Scaringe, unveiled the R1T Electric Pickup Truck and R1S Electric Sport Utility Vehicle (SUV) on the left during a public event at AutoMobility LA prior to the Los Angeles Auto Show in Los Angeles. California.

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Electric car startup Rivian on Friday Said Ended $ 2.5 Billion Financing Round Led by Existing Investors Amazon, Ford motor And T. Low Price.

The company said it has raised about $ 10.5 billion so far.Rivian Closed With a $ 2.65 billion investment round in January Another $ 2.5 billion Round last July. Raised $ 1.3 billion in December 2019 and at least $ 1.5 billion before that.

“As we approach the start of vehicle production, it is important to look forward to and drive Rivian’s next stage of growth,” Rivian CEO RJ Scaringe said in a statement. He added that he would be directed to. The company’s domestic facility footprint and international product development.

Funding announcement will be made after Rivian on Thursday Said it was planning Several states in the United States, which will open a second manufacturing plant in the United States, have submitted bids for a facility called “Project Terra” internally. According to Reuters, Rivian will announce the plant within the next few months and will begin construction early next year, citing sources familiar with the situation.

Rivian already operates a plant in Normal, Illinois, and plans to begin production of all-electric pickups and SUVs.

Last week the company Notified buyer It delays delivery of R1T pickups and R1S SUVs until late September. According to a letter sent to the customer, Scarlinge blamed many pandemic-related issues, “from building facilities to installing equipment and supplying vehicle parts (especially semiconductors).”

Retail customer delays haven’t affected Rivian’s plans to offer electric vehicles to partner and investor Amazon, the company said.

Amazon Agreed in September 2019 Purchasing 100,000 electric vehicles from startups as part of an ambitious push to run Amazon’s fleet entirely on renewable energy.the company I want to test Electric delivery vans in 16 cities by the end of 2021.

Rivian Raises $ 2.5 Billion in New Financing Round Led by Amazon, Ford

Source link Rivian Raises $ 2.5 Billion in New Financing Round Led by Amazon, Ford

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