Rivian Secures An Extra $2.5 Billion In Investments

• Rivian is looking to launch an electric pickup first.

• This is the latest round of investments in startup EV companies, this week.

• From now on, we will call this the “Tesla Effect”.

The sum Rivian has just received from investors,  led by financier T. Rowe Price Associates Inc, flat-out destroys what Karma and Fisker have secured but the fact of the matter is that these EV startups are hot-ticket items and everyone wants in.

Rivian, however, is in a more advantageous position than Fisker and Karma. The R1T pickup has truck enthusiasts salivating while the R1S SUV has families dreaming of a zero-emission capable, spacious, and attractive hauler. There’s another reason why Rivian’s got a big leg-up on the would-be competition and that’s Amazon’s order for 100,000 electric delivery vans, 10,000 of which should be delivered late next year.

Rivian is moving forward on numerous plains including refurbishing the Normal, Ill. Plant it purchased from Mitsubishi Motors. This investment alone is worth roughly $750 million. Furthermore, they’ve received support and money from Ford Motor Co., Cox Automotive, and Amazon.

All this money will push numerous new EVs through floodgates before long and we look forward to sampling them all.

Rivian

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