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Tesla competitor rivian raised $2.5 billion and Amazon continued to follow suit

via:CnBeta     time:2020/7/11 16:35:34     readed:92

According to foreign media reports on july 11, tesla has made remarkable achievements in electric vehicles, and their technology is also considered to be the industry's leading, but with the development of the electric vehicle market, there are many competitors, Rivian is one of them, they recently completed a round of financing up to $2.5 billion.

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Founded in 2009, later than tesla, Rivian is a u.s. maker of electric vehicles and self-driving technology whose first encounter with tesla will be a segment of, which they plan to take the lead in delivering to consumers. Tesla also launched an electric pickup in november Cybertruck, plans to start mass production by the end of next year.

According to foreign media reports, Rivian latest round of financing has been completed, companies and institutions have invested $2.5 billion in them.

Rivian the $2.5 billion round was led by T.Rowe Price Associates, new investors including amazon and blackstone, which have already invested in the Soros Fund Management LLC、Coatue、Fidelity Management and Research Company、Baron Capital Group,, according to foreign media reports.

Despite Rivian $2.5 billion round of funding and the participation of several new investors, their board seats have not changed.

It is worth noting that rivian's US $2.5 billion round of financing is almost the same as the amount of funds raised by them in last year's multiple rounds of financing.

Rivian raised $2.85 billion in four rounds of financing last year. In February last year, rivian announced the completion of a $700 million round of financing, led by Amazon. Then Ford led investors invested another $500 million in rivian. In September, rivian completed another $350 million round of financing, invested by Cox automotive. At the end of the year, another round of large-scale financing was completed, led by T. Rowe price associates, followed by Amazon, and also invested by Blackstone. They injected $1.3 billion into rivian.

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