Mexican Media Brands
Rivian Lands $700 Million in New Funding Led by Amazon
Rivian Automotive LLC has attracted $700 million in new equity investment led by Amazon.com Inc.
#hybrid #economics
Share
Rivian Automotive LLC has attracted $700 million in new equity investment led by Amazon.com Inc.
The only other participant in the round was Saudi vehicle distributor Abdul Lastif Jameel Ltd, according to Automotive News. ALJ previously invested $500 million in the company.
General Motors Co., which was rumored to be interested in the Plymouth, Mich.-based startup, did not participate.
Rivian aims to introduce the R1T electric pickup truck and R1S electric SUV in the U.S. by the end of 2020. Both models will ride on the company’s “skateboard” platform and be produced at the former Mitsubishi Motor Corp. factory in Normal, Ill.
RELATED CONTENT
-
On Ford Maverick, Toyota Tundra Hybrid, and GM's Factory Footprint
GM is transforming its approach to the auto market—and its factories. Ford builds a small truck for the urban market. Toyota builds a full-size pickup and uses a hybrid instead of a diesel. And Faurecia thinks that hydrogen is where the industry is going.
-
Honda to Make Hybrids in Thailand
Honda Motor Co. is preparing to launch production in Thailand of hybrid cars and the batteries that help power them.
-
Frito-Lay, Transportation and the Environment
Addressing greenhouse gas reduction in the snack food supply chain