Monday, December 23, 2019

Rivian, With Offices In SoCal, Finds $1.3 Billion

Rivian, the electric truck maker which has offices in both Irvine and Carson, California, has raised a huge, $1.3 billion funding round, the company said on Monday. The funding was a fourth round for the company, which has now raised a total of more than $2.85 billion in funding. The new funding was led by T. Rowe Price, and also included Amazon, Ford Motor Company, and BlackRock. Rivian, which is led by founder and CEO RJ Scaringe, recently announced an agreement with Amazon to supply 100,000 electric delivery vans starting in 2021, although the firm has yet to start commercial production on its vehicles.