Wednesday, September 11, 2019

Rivian, With Offices In Irvine, Gets $350M From Parent Of Kelly Blue Book

Electric truck maker Rivian, which has a development office in Irvine, has received $350M in an equity investment from the parent company of Irvine-based Kelly Blue Book, Rivian announced on Tuesday. According to Rivian--which has its headquarters in Plymouth, Michigan--the $350M investment came from automotive services company Cox Automotive. In addition to Kelly Blue Book, Cox owns Autotrader, Dealertrack, Clutch Technologies, and a number of other automotive related businesses. According to Rivian, the companies will explore partnership opportunities in service operations, logistics, and digital retailing. More information »