Rivian Adds $2.5 Billion More To It's War Chest For EV Pickup

Rivian, the electric vehicle company aiming to become the first to bring an EV pickup truck to market, has raised $2.5 billion in a round led by funds and accounts advised by T. Rowe Price Associates Inc.

New investors Soros Fund Management LLC, Coatue, Fidelity Management and Research Company and Baron Capital Group also participated. Existing shareholders Amazon and funds managed by BlackRock also joined the round. No new board seats have been added.

skytop - 7/10/2020 5:19:40 PM

0 Boost

Looks like Rivian has managed to produce only TWO TRUCKS. That factory is quite a beehive of activity in the photo. Pathetic.

MBCLS07 - 7/10/2020 6:58:38 PM

0 Boost

How many billions and how many years and still no production?

SanJoseDriver - 7/11/2020 4:38:13 AM

+2 Boost

They're going to need it.

carloslassiter - 7/11/2020 6:35:25 PM

+1 Boost

Be patient everyone. Just five or six more years now . . .

deaHelkcunK - 7/12/2020 3:58:34 PM

+1 Boost

I think it's refreshing that an electric car company fully tests their product before releasing it to the public. If it were to take another year for them to get it right so be it. They've got $4 billion on hand so they can afford to do things properly. I only wish this was a publicly traded company.

malba2367 - 7/12/2020 11:30:50 PM

+1 Boost

Rivian May be vaporware to date, but these big backers including Ford and Amazon are all investing for a reason. I find it hard to believe they would put money into something without any promise. The Ford investment is a big deal because it brings manufacturing know how. Also, Ford has more abilities to build vehicles out of aluminum than anyone else...this could be a game changer in the EV space.

MDarringer - 7/13/2020 9:49:05 AM

+1 Boost

Ford's buy in protects them against a charlatan company like Rivian from pretending that something Ford developed was stolen from the no-experience engineering team at Rivian and suing.

Amazon is probably hoping for a Tesla-like stock run so as to be able to sell out at a massive profit. It's just Jeff Bezos gambling with spare change.