• News
  • Guides
  • Reviews
  • Media
  • About
  • News
  • Guides
  • Reviews
  • Media
  • About
Sign up Now (For Free)

Sign up for our newsletter and receive the latest automotive news in your inbox!

Invalid email address
We promise not to spam you. You can unsubscribe at any time.
Thanks for subscribing!
News
Read Now
  • All News
  • Automakers
  • Automobiles
  • Auto Shows
  • Business
  • EVs & Environment
  • Guides
  • Lawsuits/Legal
  • Regulatory
  • Ride-Sharing
  • Safety & Recalls
  • Technology
Recent
  • March New Vehicle Sales to Rise 6.2% Over Last Year
  • Hyundai, Kia Recall Warns Owners of 570K Vehicles to Park Outside
  • Ford Facing $3 Billion in Losses on EV Business for 2023
  • Higher Interest Rates, Bank Failures Pose Challenge to Car Business
  • General Motors to Face Class Action Lawsuit
  • Cruise Applies to Test Robotaxis Statewide in California
  • Chevrolet Pulling Plug on Camaro – But an All-Electric Successor Already in the Works
  • Want to Buy an EV? Welcome to the 34 Percent!
  • The End of an Era for Rolls-Royce
  • South Carolina Provides $1.29 Billion Incentive for new Scout Factory
Editor’s Choice
    Reviews
    Read Now
    • All Reviews
      • Feeder
    • Classic Cars
    • Concept Cars
    • Convertibles
    • Coupes
    • Crossovers/CUVs
    • Diesel
    • Hot hatches
    • Hybrids
    • Luxury Vehicles
    • Minivans
    • Muscle Cars
    • Pickups
    • Sedans
    • Sports Cars
    • Super Cars
    • SUVs
    Recent Reviews
    • A Week With: 2023 Genesis GV80 Prestige 3.5 Turbo
    • First Drive: 2024 Dodge Hornet R/T
    • First Drive: 2023 Dodge Hornet GT
    • First Drive: 2023 Genesis Electrified GV70
    • First Drive: 2023 Nissan Ariya e-4orce AWD
    • A Week With: 2023 Jeep Compass Limited
    • A Week With: 2023 Cadillac Escalade V-Series
    • A Week With: 2023 Volvo XC40 AWD Ultimate
    • First Drive: 2024 Subaru Crosstrek
    • First Drive: 2023 Lexus RZ 450e
    Editor’s Choice
      Guides
      Car Warranty
      • Endurance Warranty Reviews
      • BMW Extended Warranty
      • Extended Warranty For Cars Over 100k Miles
      • Extended Car Warranty Cost
      • Subaru Extended Warranty
      • CarShield Reviews
      • CarShield Cost
      • Aftermarket Car Warranty
      • CARCHEX Warranty Reviews
      • Reputable Extended Car Warranty Companies
      • Used Car Warranty Companies
      • Best Car Warranty
      • Is CarShield A Scam?
      • Mercedes Extended Warranty
      • CarShield Plans
      Insurance
      • How To Identify A Car Insurance Company
      • Geico Mechanical Breakdown Insurance
      • How Far Back Does A Car Insurance Company Look
      • Mechanical Breakdown Insurance For Used Cars
      • State Farm Mechanical Breakdown Insurance
      • Mechanical Breakdown Insurance From Progressive
      • Dollar A Day Insurance
      • Auto Insurance For SSI Recipients
      • Car Insurance Rates After A Suspended License
      • Auto Insurance For Salvage Vehicles
      • Average Cost of Dodge Ram 1500 Car Insurance
      • Car Insurance Florida
      • Full Coverage Auto Insurance
      • GrubHub Insurance
      • Amazon Delivery Auto Insurance
      Shipping
      • Car Shipping Companies
      • uShip Reviews
      • Auto Shipping From California To Hawaii
      • Montway Auto Transport Reviews
      • Cheap Car Shipping
      • Easy Auto Ship Reviews
      • Auto Shipping Miami
      • Auto Shipping To Alaska
      • Car Shipping Cost
      • Auto Shipping Hawaii
      • Auto Shipping Puerto Rico
      • Sherpa Auto Transport Reviews
      • Auto Shipping Atlanta
      • Auto Shipping Boston
      • Auto Shipping. Chicago
      About
      • About Us
      • Contact Us
      • Terms of Use
      • Privacy Policy
      • Affiliate Disclosure
      • Sitemap
      TheDetroitBureau.com

      More than just “another” place to find news, reviews, spy shots, commentary, features, and guides about the auto industry. TheDetroitBureau doesn’t stop with the press releases or confuse a few lines of opinion with insightful, in-depth reporting.

      Contact Us

      Like what you see? Have some ideas for making The Detroit Bureau.com even better? Let us know, we’d love to hear your voice.

        Media
        Listen Now
        • Headlight News: All Episodes
        More from TheDetroitBureau
        • Guides
        • Latest News
        • Auto Reviews
        • Podcasts
        Headlight News

        TheDetroitBureau.com’s Headlight News offers a look at the past week’s top automotive news stories, as well as what’s coming up in the week ahead. Check out the week’s top story and our latest review…along with a dive into the past with this week in automotive history.

        home > news > Automakers > Rivian Raises $2.65 Billion With Latest Investment Round

        Rivian Raises $2.65 Billion With Latest Investment Round

        Funding efforts have netted EV maker $8 billion.

        Joseph Szczesny
        Joseph Szczesny , Executive Editor
        Jan. 20, 2021
        Rivian netted $2.65 billion in the latest investment round led by T. Rowe Price.

        Rivian has squirreled away another $2.65 billion in cash with a successful investment round led by T. Rowe Price, one of the company’s key financial backers.

        This round also included new investments Fidelity Management and Research Co., Amazon’s Climate Pledge Fund, Coatue and D1 Capital Partners as well as several other existing and new investors, according to a statement from Rivian.

        Rivian, which is preparing to launch and electric pickup truck this summer, also has financial backing from the Ford Motor Co. and Amazon Inc. Ford expects to use Rivian technology in the future and Amazon plans to deploy delivery vehicles built by Rivian. Ford officials confirmed to TheDetroitBureau.com that the automaker did not participate in the latest investment round.

        (Rivian ready to join charging network adventure — literally.)

        “This is a critical year for us as we are launching the R1T, the R1S and the Amazon commercial delivery vehicles. The support and confidence of our investors enables us to remain focused on these launches while simultaneously scaling our business for our next stage of growth,” noted Rivian Founder and CEO RJ Scaringe.

        The R1T, above, and R1S will be produced at a former Mitsubishi plant in Normal, Illinois.

        Rivian has spent more than a year re-configuring a former Mitsubishi assembly plant in Normal, Illinois to build the R1T and R1S. The Normal plant has already produced several pre-production vehicles that are being used in promotional videos and a cross-country drive that highlights the ability of the Rivian vehicles to travel off road in wild country.

        “We have been eagerly anticipating the arrival of 2021, and with it, the exhilaration of Rivian starting to deliver its revolutionary products to customers. It is invigorating for us to continue our journey with such a talented, mission-driven team building a robust organization for the long term,” said Joe Fath, T. Rowe Price portfolio manager.

        Late last year, Rivian launched an online configurator to begin the process of ordering vehicles.

        The investment announcement is Rivian’s first in 2021 and the company has now raised $8 billion since the start of 2019, the company said after completing the new round of investments.

        (Rivian sells out Launch Edition of electric trucks and SUVs.)

        Rivian, which was founded in 2009 and gone through a long gestation period, has now developed what it describes as a vertically integrated a connected electric platform that can be flexibly applied to a range of applications, including the company’s adventure products as well as B2B products such as the Amazon last mile-delivery van.

        Amazon’s delivery vans have been reportedly spotted on the road already.

        Last July, Rivian announced it completed a $2.5 billion funding round led by funds and accounts advised by T. Rowe Price.

        In early 2019, Rivian announced a $700 million funding round led by Amazon. It was followed by Ford Motor Co.’s $500 million investment in April 2019, and that the companies would collaborate on a future program. Cox Automotive soon after invested $350, which also included plans for collaboration on logistics and service.

        Rivian next announced it was developing a customized electric delivery van for Amazon, using the company’s skateboard platform. Some 100,000 of the vans had been ordered by Amazon and deliveries are scheduled to start later this year, according to Rivian.

        (Amazon shows off all-electric Rivian delivery van.)

        Following the Amazon announcement in 2019, Rivian closed an investment round of $1.3 billion led by funds and accounts advised by T. Rowe Price Associates, Inc. with additional participation from Amazon, Ford and funds managed by BlackRock, Rivian said.

        How to Care for Your Car

        Cheap Car Warranty

        Editor's Choice

        Best Extended Car Warranty

        Editor's Choice
        Recently Published
        Dealer lot 2021

        March New Vehicle Sales to Rise 6.2% Over Last Year

        Yesterday
        2022 Hyundai SantaFe 7

        Hyundai, Kia Recall Warns Owners of 570K Vehicles to Park Outside

        Yesterday
        Bronco Raptor rock crawling REL

        Ford Facing $3 Billion in Losses on EV Business for 2023

        Yesterday

        Leave a Reply Cancel reply

        Your email address will not be published. Required fields are marked *

        Share this article:
        © The Detroit Bureau 2023
        • Guides
        • Privacy Policy
        • Terms of Use
        • Affiliate Disclosure
        • Contact Us
        • Sitemap
        Follow Us: