Rivian Closes Investment Round of $1.3B
Dec. 26, 2019—Automaker Rivian has closed an investment round of $1.3 billion. The financing was led by funds and accounts advised by T. Rowe Price Associates, Inc. Amazon, Ford Motor Company and funds managed by BlackRock also participated in the round.
The investment announcement is Rivian's fourth of 2019. In February, Rivian announced a $700 million funding round led by Amazon. In April, Rivian announced that Ford Motor Company invested $500 million and that the companies would collaborate on a vehicle project utilizing Rivian's skateboard platform.
The company's launch products, the R1T and R1S, deliver up to 400+ miles of range and provide a combination of performance, off-road capability and utility. These vehicles will be produced at Rivian's manufacturing plant in Normal, Ill., with customer deliveries expected to begin at the end of 2020.