Rivian raises another $2.5 billion as it looks to build a second factory

GoGoGadgetMachE

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Rivian raises another $2.5 billion as it looks to build a second factory (msn.com)


Electric vehicle startup Rivian has raised another massive round of funding, this time to the tune of $2.5 billion, bringing its total raised to date over the $10 billion mark. The funding round comes as Rivian recently confirmed it’s looking for a location to build a second factory — one that will also produce batteries for its vehicles — in the United States. The company is currently aiming to roll its first electric pickup trucks off the line at its existing factory in Illinois this September.

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The new round was led by Amazon’s Climate Pledge Fund, Ford, D1 Capital Partners, and funds advised by T. Rowe Price, each of which are already investors in Rivian. Amazon and Ford each own more than 10 percent of the buzzy EV startup, and are working with Rivian on separate vehicles — Rivian is building delivery vans for Amazon, and is developing an vehicle with Ford.


(more at source)
(sorry, I know The Verge is a steaming pile of a site, but I couldn't quickly find the news somewhere else - at least this is through the MSN filter)
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EELinneman

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Great for them, but when are they going to build a truck for delivery to a customer?
 

AZBill

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Great for them, but when are they going to build a truck for delivery to a customer?
I gave up on them and got the Mach E instead and a refund from Rivian. I will say, they finally under promised and over delivered, they told me the refund would take 5-10 days, but I got it the day after cancelling.
 
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GoGoGadgetMachE

GoGoGadgetMachE

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Billyk24

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Is Rivian going to purchase part of the Lordstown plant which has the new GM battery plant next door?
 
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