Rivian raises another $2.5 billion as it prepares to launch its electric pickup [CNNMoney.com]
Ford Motor Company (F)
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Source: CNNMoney.com
Rivian raises another $2.5 billion as it prepares to launch its electric pickup (CNN) Rivian, a Michigan-based company with plans to make fully electric pickups and SUVs, announced Friday that it secured an additional $2.5 billion in funding. The round of funding was led by T. Rowe Price Associates, the company said. Amazon and BlackRock, both of which have previously invested in Rivian, participated in this round of investments, along with several new investors. Soros Fund Management and Baron Capital Group were among those also involved. Amazon led an earlier investment round of $700 million in Rivian in 2019, and also placed an order for 100,000 electric delivery vans with the electric vehicle maker.Rivain plans to begin sellings its all-electric plckups and SUVs next year. Ford, which was not named as a participant in this latest round of investments, put $500 million into Rivian in 2019. As part of that investment, Rivian had agreed that it would work on an electric S
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