Rivian announces $2.5 billion investment round

South Korean news outlet The Elec reports that Samsung SDI has won a contract for manufacturing batteries for Volkswagen. According to "people familiar with the matter", the Korean giant will produce a part of VW's self-designed Unified Prismatic Cells. The media speculates that other companies in which Volkswagen has a stake will also contribute to the production of these battery cells. These are Northvolt and...

5 August 2021

Samsung SDI will supply batteries to Rivian for its electric vehicles. The US company backed by Amazon.com Inc. and Ford Motor Co., said in a statement that the two companies have been working together on the batteries "throughout the vehicle development process." Rivian plans to start mass production of R1T pickup and R1S SUV this year. The R1T starts at $75,000 and deliveries begin in June, according to its...

13 April 2021

Rivian has closed an investment round of $2.65 billion. The financing was led by funds and accounts advised by T. Rowe Price Associates, Inc. This round also included Fidelity Management and Research Company, Amazon's Climate Pledge Fund, Coatue and D1 Capital Partners as well as several other existing and new investors. "This is a critical year for us as we are launching the R1T, the R1S and the Amazon commercial...

20 January 2021

Amazon shows off its all-electric delivery van in a short video. The company has commited to reach zero carbon footprint by 2040 and use 100% renewable energy by 2030. According to the video, Amazon's order of 100,000 electric delivery vehicles has the power to save millions of metric tons of carbon per year. These are modern all-black vehicles with blue accents on the outside and inside that hint at the use of...

14 October 2020

Rivian has announced that a pilot Rivian Skateboard frame tests out its new cradle lately at the company's plant in Normal, IL. This has allowed the team to be more precise with the delivery times of its advetnture electric vehicles. So here it is: "R1T deliveries will begin June 2021. R1S deliveries will begin August 2021."

27 July 2020

Korea Herald reports that according to industry sources, Rivian is in talks with Samsung SDI for battery supply. This has been made as a conclusion after high-ranking officials of the two companies recently held a meeting that's supposed to conclude the deal. When asked to comment, an official at Samsung SDI said: "The company can’t reveal any details related to its customer." Three days ago, Lucid announced that it...

27 February 2020

Rivian and Lincoln have announced that they are working together on Lincoln's first electric vehicle, which will be based on Rivian's skateboard platform. The vehicle will progress Lincolns Quiet Flight DNA and feature advanced and intuitive technologies. It is part of Ford's planned equity investment in Rivian and a part of Fords previously announced investment of more than $11.5 billion into electrification, which...

30 January 2020

At the end of December, Rivian has closed its fourth round of investment for 2019. It amounts to $1.3 billion with main participants in the round being Amazon, Ford Motor Company and funds managed by BlackRock. The financing was led by funds and accounts advised by T. Rowe Price Associates, Inc. "This investment demonstrates confidence in our team, products, technology and strategy - we are extremely excited to have...

26 December 2019

In a recent post on Twitter, Rivian has announced that it is "busy making metal." Two of the photos accompanying the post unveil body panels for pre-production of the Rivian R1T. Rivian plans to produce them at a former Mitsubishi plant in Normal, Illinois. Conceived as "adventure vehicles" Rivian's models did electrify the expectations of the audience interested in electric vehicles ever since the R1T announcement...

23 July 2019

In a conversation with Wall Street analysts at the UBS Global Industrials and Transportation Conference, General Motors President Mark Reuss said that the company will have "a complete electric lineup, including a pickup truck that’s in development." This is the second time that's widely known, in which GM tries to enter this market. The first known attempt became known in April when GM was in talks with Rivian for...

7 June 2019

Bloomberg reports that the talks between Rivian and GM regarding a possible GM investment in the Amazon-backed start-up may be broken down. This information comes from "people familiar with the matter." Evidently, GM has been widely expected to join Amazon as a strategic investor but, according to the sources, negotiations have stopped in the past two weeks. In case, they're not renewed Rivian will continue...

12 April 2019