Rivian has closed a massive $2.5 billion round of funding led by funds and accounts advised by T. Rowe Price Associates. Participants in this investment round included Soros Fund Management LLC, Coatue, Fidelity Management and Research Company, and Baron Capital Group. Existing shareholders Amazon and funds managed by BlackRock also participated. Rivian is set to… Continue reading EV Startup Rivian Closes $2.5B Investment Round
Tag: Rivian
Rivian Workers Return to Factory
Rivian has brought employees back to its Normal, Ill. factory to resume work after a shutdown due the COVID-19 pandemic. Because of the stop, Rivian has delayed the start of production on its R1T and R1S electric truck and SUV until 2021. The company hoped to start building vehicles at the end of this year.… Continue reading Rivian Workers Return to Factory
Rivian Deliveries Delayed Until 2021
Rivian will delay first deliveries of its electric pickup until 2021 after shutting down its factory as part of coronavirus precautions. The EV startup hoped to bring an electric pickup and SUV to customers by the end of this year. The vehicles are being built at a former Mitsubishi plant in Normal, Ill. “It will… Continue reading Rivian Deliveries Delayed Until 2021
Report: Rivian to Announce Lower Price for Electric Pickup
Rivian will price its electric pickup and SUV for less than previously announced, Reuters reported. “Rivian founder and chief executive R.J. Scaringe told Reuters the mid-range R1T pickup truck with a glass sky panel that can change from blue to clear was about $69,000,” the report said. Rivian previously said the R1T would start at… Continue reading Report: Rivian to Announce Lower Price for Electric Pickup
Rivian Will Add Alexa Voice Assistant to Upcoming Electric Trucks
Rivian will integrate Amazon’s Alexa voice assistant into its upcoming electric vehicles. The feature was announced this week at CES. Amazon is providing the feature to a long list of automakers including Ford, Audi, BMW, GM, and Toyota. But, Amazon has been an enthusiastic supporter of Rivian. In addition to a $700 million investment in… Continue reading Rivian Will Add Alexa Voice Assistant to Upcoming Electric Trucks
Rivian Confirms the Tank Turn
Rivian has announced a debatably useful, nonetheless interesting feature for its upcoming electric pickup. The R1T will be capable of a “Tank Turn,” which means the vehicle can hold its position while spinning completely around. Each wheel of the Rivian has its own motor. This enables them to operate independently and in different directions. For example,… Continue reading Rivian Confirms the Tank Turn
Rivian Raises $1.3 Billion from T. Rowe Price
Rivian has raised a giant $1.3 billion round of funding as it gets ready to deliver its all-electric pickup and SUV next year. The financing was led by funds and accounts advised by T. Rowe Price Associates. Previous investors Amazon, Ford, and BlackRock also participated in the round. “This investment demonstrates confidence in our team,… Continue reading Rivian Raises $1.3 Billion from T. Rowe Price
Rivian Shows Off New Blue to Reservation Holders
The Rivian R1T made its debut in blue last week at an event in Seattle. The highly-anticipated all-electric pickup was on display for reservation holders, who got a look at a new blue paint. It’s a bolder look for the truck, which has previously been seen in silver and white. The R1T, is expected to… Continue reading Rivian Shows Off New Blue to Reservation Holders
Rivian Raises $350M from Cox Automotive
Rivian, which has developed an electric SUV and pickup, today announced an equity investment of $350 million from global automotive services company Cox Automotive. Cox Automotive, a subsidiary of Cox Enterprises, is the home of nearly 30 automotive brands, including Autotrader, Kelley Blue Book, Pivet, RideKleen and Manheim, which transports, services, and auctions vehicles across… Continue reading Rivian Raises $350M from Cox Automotive
Electric Pickup Roundup: Musk Says Tesla’s Cyberpunk Truck is Months Away
The electric pickup market is starting to take shape and there seems to be a steady stream of developments making headlines from both startups and the auto giants. One of the most highly-anticipated items to watch is the debut of Tesla’s pickup. It sounds like it’s receiving final touches. Replying to a Twitter follower anxious… Continue reading Electric Pickup Roundup: Musk Says Tesla’s Cyberpunk Truck is Months Away