Rivian receives $ 1.3 billion investment - Carfoni

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Rivian receives $ 1.3 billion investment

Wednesday, December 25, 2019

The US-based electric car initiative Rivian has announced a new investment of $ 1.3 billion. The initiative, which develops electric SUVs and pick-up models, is among Tesla's most serious competitors, who introduced the Cybertruck model last month.

Rivian, an electric car venture, announced that it has received $ 1.3 billion in investment. Earlier investors from the US-based venture, Amazon and Ford, joined the investment tour led by T. Rowe Price.

It is stated that the investment amount taken by the company has reached 3 billion dollars.

Founded in the USA in 2009, Rivian has developed a SUV and a pick-up model, the R1T and the R1S.

Both models will be available at the end of 2020. Both models are expected to have a US $ 70,000 price tag. The range of the two fully-electric models is 650 kilometers.

Amazon had invested $ 700 million in Rivian in February. The initiative will develop 100,000 electrically powered delivery vehicles for Amazon.

Ford also has a $ 500 million investment in Rivian. Lincoln's electric SUV model to be introduced in 2022 Rivian's platform is expected to be used.

Although the size of Rivian's investment is remarkable, electric vehicles still have a small share in the global automotive market. However, China and Europe's 'zero emissions' strategy forces Ford, Volkswagen, General Motors and other manufacturers to invest billions of dollars in electric cars.


T. Rowe Price, which attracts attention with his investments, also has investments in Cruise, the autonomous vehicle unit of Tesla and General Motors.

In addition, another autonomous vehicle venture is between Aurora and the investment portfolio of T. Rowe Price at the British online food ordering company Deliveroo.

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