Rivian Gets A $1.3 Billion Cash Infusion To Battle Tesla In The Truck Market

Electric vehicle startup Rivian said on Monday it closed a $1.3 billion investment round, led by fund manager T. Rowe Price but also including existing investors Amazon.com Inc and  Ford Motor Co.

The investment round, which also included BlackRock Inc., is the fourth this year for Rivian and positions the Plymouth, Mich.,-based company as one of the better-financed players in a crowded EV manufacturing market where Tesla Inc. is the most established player.

MDarringer - 12/24/2019 11:09:27 AM

-1 Boost

Rivian has a history of consuming mass quantities of money and producing absolutely NOTHING. They've been doing just that for a number of years now.

carloslassiter - 12/24/2019 12:41:29 PM

0 Boost

I figure they'll burn through about half that money just testing and refining that external dog jump seat.

skytop - 12/24/2019 12:45:59 PM

0 Boost

Who is the investor who give a whopping $1.3 billion to Rivian. How many hundreds of thousand of trucks must be built and sold to repay the investor?

MDarringer - 12/24/2019 1:49:33 PM

-1 Boost

Read the article.

Vette71 - 12/24/2019 2:25:36 PM

+3 Boost

Lincoln intends to use their skateboard platform, and Amazon has them making a couple hundred delivery vans so they are more than just making their own vehicles. IMHO a better strategy than Tesla.

dumpsty - 12/24/2019 5:22:07 PM

+2 Boost

right. Lincoln & Ford trucks are being developed using the Rivian platform. And developing EV vehicles for last-leg shipping duties is smart.

SanJoseDriver - 12/24/2019 6:00:53 PM

+2 Boost

That was Tesla's original strategy, build a concept car and sell the skateboard... no one was bold enough to take that on except for perhaps MB so they went a different direction. At this point, this model could work and would help laggard automakers get up to speed faster, probably cutting 2 years off of development time.

SanJoseDriver - 12/25/2019 3:49:47 AM

+2 Boost

Either is Rivian, they both have future products that will certainly go head to head.