Electric vehicle manufacturer Rivian has secured another $2.65-billion (£1.9-billion) in investments to bolster its position as one of the world's best-funded EV companies.
The American Amazon-backed company, founded in 2009 and now boasting 3000 employees, develops vehicles, products and services related to sustainable transportation.
The latest cash-injection included monies invested by Amazon’s Climate Pledge Fund and investment firms Coatue and D1 Capital Partners, along with “several other existing and new investors,” according to the EV startup.
Despite not having produced one consumer vehicle yet to date, Rivian has managed to raise an eye-watering $8-billion since 2019. The new investment will be crucial as Rivian prepares to release its first two electric vehicles later this year, the R1T pickup truck and the R1S SUV.
Rivian, boasting offices in in Michigan, California, Illinois, Canada, and the UK is also working with Amazon on developing and deploying an electric delivery van, with a view to building a zero-emissions delivery fleet for Amazon.
Rivian Founder and CEO RJ Scaringe, said: “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.”
Keyword: EV manufacturer Rivian readies Amazon vans and e-pickup production with $2.65-billion funding