Hyperdrive
Electric-Truck Maker Rivian Raises $1.3 Billion in New Funding
- T. Rowe move follows bet on self-drive startups Cruise, Aurora
- Rivian has raised a total of $2.85 billion so far in 2019
Rivian Automotive R1T
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Rivian Automotive Inc., the electric-truck startup already backed by Amazon.com Inc. and Ford Motor Co., raised another $1.3 billion from investors led by T. Rowe Price to support the rollout of its debut vehicles next year.
The funds generated from Rivian’s fourth major investment this year boosts the total raised to $2.85 billion. The Plymouth, Michigan-based manufacturer said Amazon, Ford and funds managed by BlackRock also participated in the round.