Monday, July 26, 2021

Rivian Pulls In Another $2.5 Billion

Electric car maker Rivian, which has significant operations in Orange County, has raised another $2.5 billion in funding, the company said on Friday. The funding brings the company's total raised to an astounding $10.5 billion. The new funding came from Amazon's Climate Pledge Fund, D1 Capital Partners, Ford Motor and T. Rowe Price Associates Inc., along with Third Point, Fidelity Management and Research Company, Dragoneer Investment Group and Coatue. Rivian is led by CEO RJ Scaringe. Rivian is working on electric pickup trucks and SUVs, including delivery vehicles for Amazon.

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