Tuesday, July 29, 2025
  • PRESS RELEASE
  • ADVERTISE
  • CONTACT
Happy With Car
No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS
Happy With Car
No Result
View All Result
Rivian reportedly reaches US.6bn value after new funding | Automotive Industry News

Rivian reportedly reaches US$27.6bn value after new funding | Automotive Industry News

by admin
January 20, 2021
in Auto News
0 0
0
Share on FacebookShare on Twitter


Rivian Automotive, the electrical truck startup backed by Amazon and Ford, reportedly has raised US$2.65bn in new funding from a gaggle of traders led by T Rowe Worth.

Bloomberg Information mentioned different traders within the spherical included Constancy Investments, Amazon, Pledge Fund, Coatue Administration and D1 Capital Companions, in addition to a number of different present and new traders. The extra funding boosts the overall raised thus far past $8bn.

Bloomberg Information first reported the spherical earlier this month.

Rivian didn’t disclose a valuation, however it was round $27.6bn taking into consideration the brand new funds, in response to a Bloomberg supply.

Rivian will use the funds raised to launch its first electrical autos and increase its enterprise, CEO RJ Scaringe mentioned in a press release cited by Bloomberg.

“This can be a crucial yr for us as we’re launching the R1T, the R1S and the Amazon business supply autos. The assist and confidence of our traders allows us to stay centered on these launches whereas concurrently scaling our enterprise for our subsequent stage of development,” Scaringe mentioned.

Rivian plans to construct two full dimension BEV fashions – an SUV and truck – on the former Mitsubishi automobile plant in Regular, Illinois.

Bloomberg mentioned Rivian was aiming for US deliveries of its R1T pickup to start in June and in August for its R1S SUV. It beforehand deliberate to begin manufacturing in late 2020 however pushed again that date in April resulting from unspecified provide chain points associated to the pandemic.

Rivian was based in 2009 by Scaringe, a Massachusetts Institute of Expertise graduate with a doctorate in mechanical engineering. It now employes greater than 3,000 staff cut up between websites in California, Michigan and Regular, Bloomberg famous.





Source link

Tags: AutomotivefundingIndustryNewsreachesUS276bnreportedlyRivian

Related Posts

BangShift.com Brittany Force #1 • Re-sets The NHRA Top Fuel National Record To 343.16 Miles Per Hour!!!
Auto News

BangShift.com Brittany Force #1 • Re-sets The NHRA Top Fuel National Record To 343.16 Miles Per Hour!!!

July 27, 2025
Zeekr unveils 009 Grand in Sydney
Auto News

Zeekr unveils 009 Grand in Sydney

July 28, 2025
Why the Skoda Superb is a 5-star car
Auto News

Why the Skoda Superb is a 5-star car

July 25, 2025
Loke instructs KTM, RapidKL to continue services on July 26 despite protest against government
Auto News

Loke instructs KTM, RapidKL to continue services on July 26 despite protest against government

July 26, 2025
Chery’s local tuning efforts intensify
Auto News

Chery’s local tuning efforts intensify

July 28, 2025
Auto industry sales satisfaction declines for the first time in eight years, J.D. Power finds
Auto News

Auto industry sales satisfaction declines for the first time in eight years, J.D. Power finds

July 25, 2025
Load More
Next Post
XL Fleet Announces New Executive Team Appointments – Green Fleet

XL Fleet Announces New Executive Team Appointments - Green Fleet

What Does The Genesis Warranty Cover? (2021)

What Does The Genesis Warranty Cover? (2021)

Categories

  • Auto News (3,427)
  • Automative Reviews (1,943)
  • Car Brands (2,069)
  • Insurance (3,451)
  • Market (1,610)
  • New Cars (2,171)
  • Technology (2,047)
  • Videos (2,146)
Happy With Car

Find the latest automotive news. Read car news from the auto industry including auto shows, latest vehicles, future cars and more.

Categories

  • Auto News
  • Automative Reviews
  • Car Brands
  • Insurance
  • Market
  • New Cars
  • Technology
  • Videos

Recent News

  • Tesla and Samsung Forge $16.5 Billion Chip Supply Deal for Next-Gen AI Chips, ETAuto
  • Mitsubishi to tune new BEV model in Australia
  • Is the 2021 Hyundai Elantra Limited the BEST new compact car to BUY?
  • Home
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact

Copyright © 2020 Happy With Car

No Result
View All Result
  • HOME
  • AUTO NEWS
  • AUTOMATIIVE REVIEWS
  • NEW CARS
  • CAR MARKET
  • CAR BRANDS
  • TECHNOLOGY
  • INSURANCE
  • FINANCE
  • VIDEOS

Copyright © 2020 Happy With Car

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In