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Blog Rivian Brings Total Funding to $8 Billion

Discussion in 'Electric Vehicles' started by TMC Staff, Jan 19, 2021.

  1. TMC Staff

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    Rivian, which is expected to deliver its debut EV this year, announced it has added $2.65 billion to its war chest. The company has attracted $8 billion in investment since 2019. The financing was led by funds and accounts advised by T. Rowe Price Associates, Inc. and included Fidelity Management and Research Company, Amazon’s Climate...
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  2. uujjj2

    uujjj2 Member

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    What's Rivian doing with all this funding? At this point in its growth, Tesla had raised around $1B, half of which was a government loan.
     
  3. MXLRplus

    MXLRplus Active Member

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    They already have an assy line running producing CTF vehicles for field testing and evaluation, over 3000 employees, and at least 6 facilities in the US and UK.

    I believe Rivian is going to release a sorted out EV like you would expect from a major ICE mfr. We will see.

    BTW - Their software dev lab is in San Jose.
     
  4. uujjj2

    uujjj2 Member

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    Yep. Rivian is based in Michigan but most of their engineering is in California. Software is based in San Jose, while the battery/powertrain/cooling is done in Irvine.

    Whereas Tesla is one of the most geographically concentrated companies in the industry, Rivian has been dispersed over multiple sites from the beginning.
     

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