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... READ FULL ARTICLE
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.
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.
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.