Rivian R1S electric sport utility vehicle
Source: Rivian
Rivian, the electric vehicle backed by Amazon and Ford Motor, said Tuesday it closes a $ 2.65 billion investment round led by T. Rowe Price funds as the company moves closer to the production of a fully electric pickup and SUV.
The company has raised about $ 8 billion since 2019. Rivian closed on a $ 2.5 billion investment round last year, also led by T. Rowe Price; a $ 1.3 billion funding round in December 2019; and raised at least $ 1.5 billion for it.
Other participants in the round included, according to the company, Fidelity, Amazon’s Climate Pledge Fund, Coatue and D1 Capital Partners as well as several other existing and new investors.
Rivian is expected to be one of the first, if not the first, to launch an electric pickup truck later this year.