Photo: Rivian
Ever since Rivian first came into the spotlight, seemingly out of nowhere, its marketing tactics have been quite a lot less flamboyant than other similar Tesla future rivals, like, let’s say Nikola Motor Company.
Except for that amusing ‘tank turn’ video last year, Rivian has left its products do most of the talking with potential investors, and it seems to be paying off, quite literally.
With that in mind, the American start-up has just announced a gigantic $2.5 billion investment round, with financing led by fund and accounts advised by T. Rowe Price Associates.
“We are focused on the launch of our R1T, R1S and Amazon delivery vehicles. 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. We are grateful for the strong investor support that helps enable us to focus on execution of our products,” said Rivian Founder and CEO RJ Scaringe.
With all the commotion surrounding Tesla’s Cybertruck concept reveal and start of reservations, people seems to have forgotten that the Rivian R1T is likely to be the first carmaker to bring an all-electric pickup to market in in the first half of 2021.
That’s way ahead of everyone else, including established carmakers like Ford and its electric F-150, with Ford investing $500 million and becoming a partner on a future project as well..
Even more impressive, the latest $2.5 billion investment doesn’t translate into the establishment of new board seats, and CEO RJ Scaringe has let us believe that even more money may be pouring rather sooner than later.
No less than $2.85 billion were invested into the company last year, making it the hottest automotive start-up in recent years. Rivian is now focusing on starting production of its products in a former Mitsubishi factory in Normal, Illinois.
With that in mind, the American start-up has just announced a gigantic $2.5 billion investment round, with financing led by fund and accounts advised by T. Rowe Price Associates.
“We are focused on the launch of our R1T, R1S and Amazon delivery vehicles. 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. We are grateful for the strong investor support that helps enable us to focus on execution of our products,” said Rivian Founder and CEO RJ Scaringe.
With all the commotion surrounding Tesla’s Cybertruck concept reveal and start of reservations, people seems to have forgotten that the Rivian R1T is likely to be the first carmaker to bring an all-electric pickup to market in in the first half of 2021.
That’s way ahead of everyone else, including established carmakers like Ford and its electric F-150, with Ford investing $500 million and becoming a partner on a future project as well..
Even more impressive, the latest $2.5 billion investment doesn’t translate into the establishment of new board seats, and CEO RJ Scaringe has let us believe that even more money may be pouring rather sooner than later.
No less than $2.85 billion were invested into the company last year, making it the hottest automotive start-up in recent years. Rivian is now focusing on starting production of its products in a former Mitsubishi factory in Normal, Illinois.
Google News