As per the sources, on Friday, Electric car startup Rivian announced to close 2.5 billion fundraising rounds started by Amazon investors, Ford Motor Co & T. Rowe Price.
This statement from Rivian comes exactly a day after the announcement of the California-based company to explore building a second US assembly plant, sources said.
Furthermore, it was announced on Thursday that Rivian’s designed plant, designated “Project Tera,” will contain battery cell manufacturing.
RJ Scaringe- Rivian CEO said that “As we near start of vehicle production, it is important that we keep looking forward & pushing through to Rivian’s next phase of growth,”.
He further added “This infusion of funds allows Rivian to scale new vehicle programs, extend our domestic facility footprint, & fuel international product rollout,”.
Last week in a letter to customers, Scaringe stated that delayed in the launch of their vehicle is because of Covid-19, the 1st releases of the R1T, earlier scheduled for July, were moved to September, and they pushed the R1S to autumn.
Auto-manufacturer are competing to build EVs as China, Europe & other countries requiring less carbon emissions. Rivian intentions to take part when it rolls out its R1T pickup & R1S SUV, as well as a delivery wagon for Amazon.
