November 28, 2023

Rivian R1S electric SUV

Source: Rivian

Rivian, the electric vehicle startup backed by Amazon and Ford Motor, said Tuesday it was closed a $ 2.65 billion investment round led by the T. Rowe Price Fund as the company gets closer to the production of an all-electric pickup and SUV.

The company has raised approximately $ 8 billion since 2019. Rivian completed a $ 2.5 billion investment round last year, also led by T. Rowe Price. a $ 1.3 billion financing round in December 2019; and had previously raised at least $ 1.5 billion.

According to the company, Fidelity, the Climate Pledge Fund from Amazon, Coatue and D1 Capital Partners, as well as several other existing and new investors, were also participants in the round.

Rivian is expected to be among the first, if not the first, to launch an all-electric pickup truck later this year.