Friday, February 15, 2019

Amazon Leads $700M Funding Round For Electric Truck Maker Rivian

Amazon is the lead investor in a big, $700M funding round for Rivian, a startup developing all electric pickup trucks and SUVs. Rivian announced on Friday that it had raised $700M for its development efforts, all led by Amazon, and also including the company's prior investors. According to Rivian, its first two vehicles--the R1T and R1S--provide over 400 miles of range, and are expected to be delivered in late 2020. The company is led by founder and CEO RJ Scaringe. Rivian says it has more than 750 employees, and has offices in Plymouth, Michigan; San Jose, California; Irvine, California; and Surrey, England. The company say it has a 2.6-million-square-foot manufacturing plant in Normal, Illinois. More information »