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Rivian Raises $2.5 Billion as It Readies Rollout of Pickup, SUV

Bloomberg business news
Rivian Aims to Launch 3 EVs in 2021

Rivian Automotive Inc., the electric truck startup backed by Inc. and Ford Motor Co., said Friday it raised $2.5 billion as it prepares to debut its plug-in pickup and sport-utility vehicle this fall.

The latest round of funding brings the total amount of capital Rivian has raised to $10.5 billion, it said in a statement. The extra cash comes just after the Irvine, California-based automaker revealed a delay in the launch of its new models and as it looks to establish a second factory to boost production.