Friday, October 30, 2020
News Rivian Secures An Extra $2.5 Billion In Investments

Rivian Secures An Extra $2.5 Billion In Investments

Since last fall alone, Rivian has raised more than $5 billion and is only about to launch its first product


  • 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.

EV Startups Like Karma And Fisker Are The Current Next Big Thing, And Are Landing Big Investments

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 R1S 3-row all-electric SUV
Rivian R1S | Photo: Rivian Automotive

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.

Amazon’s Rivian delivery van | Photo: Amazon

Rivian R1T
Rivian R1T | Photo: Rivian

Rivian R1S
Rivian R1S | Photo: Rivian

Trending Now

Ford Confirms E-Transit Reveal For Next Month

Electric version of world's best-selling cargo van Farley says "Ford owns 'work'" Ford has officially announced that there is an electric version of its...

Mercedes Execs Say EV Sports Cars, Coming Soon

Electric sports car platform very likely, says CEO Mercedes launching flagship EQS sedan soon While the fire and fury of the Mercedes-AMG 4.0L biturbo...

The Bugatti Bolide Concept Is Out For Speed

Weighs only 2,734 pounds. W16 engine produces 1,825 horsepower. Its top speed is well over 310 mph, or 500 km/h. Stephan Winkelmann, President of...

Volvo Canada Launches The New Garage Design Challenge

The New Garage is a design contest is presented by Volvo and IDS. Have an idea for a garage design? Draw it up...

Ford Readies Hands-Free Driving Tech For Launch

Active Drive Assist to go live Q3 2021 Ford expects 100k equipped models in first year Ford is just about ready to bring its...
Matt St-Pierre
Matt St-Pierre
Trained as an Automotive Technician, Matt has two decades of automotive journalism under his belt. He’s done TV, radio, print and this thing called the internet. He’s an avid collector of many 4-wheeled things, all of them under 1,500 kg, holds a recently expired racing license and is a father of two. Life is beautiful. Send Matt an emai

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.