US startup Rivian completes $2.5 billion in financing! Amazon leads the investment!

It is learned that recently, the US electric vehicle startup Rivian announced the completion of a new round of US$2.5 billion in private financing, led by Amazon's Climate Pledge Fund, D1 Capital Partners and Ford Motor Company.

The company last raised $2.65 billion in a funding round in January from existing investors, bringing the total to about $10.5 billion since Amazon announced a $700 million investment in 2019.

It is reported that new investors also participated in the investment round, which pushed Rivian's valuation to US$27.6 billion.

Founded by RJ Scaringe in 2009, Rivian is committed to developing a variety of high-quality electric vehicles with a longer range than any electric vehicle on the market today. Rivian has also developed a networked electric platform, including some of the company's B2B products, such as Amazon's "last mile" delivery service. The electric SUV that Jeff Bezos took on his recent space trip was also produced by Rivian.

It is learned that Rivian currently has 7,000 employees and has launched the 5-seater pickup truck Rivian R1T and the 7-seater SUV R1S. In addition, Rivian is preparing to build its second factory in the United States, Project Tera, and plans to test drive electric delivery vehicles in 16 cities by the end of 2021. In September 2019, Amazon purchased 100,000 electric vehicles from Rivian. Due to the impact of the epidemic, the delivery of R1T is expected to be postponed until September this year.

Editor✎ Irene/

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