Vehicles use the company’s flexible skateboard platform and will be produced at Rivian’s manufacturing plant in Normal, Illinois
Rivian has closed an investment round, led by funds and accounts advised by T. Rowe Price Associates, Inc.
It is fourth Rivian’s investment announcement of 2019. In February, Rivian announced a $700 million funding round led by Amazon.
In April, Ford Motor Company invested $500 million and announced a joint collaboration on a vehicle project utilizing Rivian’s skateboard platform.
Cox Automotive announced its $350 million investment in Rivian, complemented by plans to collaborate on logistics and service in September.
Along with these investments, in late September, Rivian announced it was collaborating with Amazon on the development of an electric delivery van utilizing Rivian’s platform technology.