July 10 - 15:07
Tesla rival Rivian lands $2.5 billion in funding
Electric vehicle startup Rivian has received a cash injection worth $2.5 billion. The Tesla rival is aiming to put electric SUVs and pickup trucks in production next year. It also owns an EV platform used by Amazon's delivery vehicles. Amazon is an investor in Rivian. This latest round was led by T. Rowe Price Associates. "We are grateful for the strong investor support," said Rivian's CEO.
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