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Rivian News: 12 Things to Know About the Electric Truck Maker Ahead of Its First Vehicle Launch

Rivian is in the news Tuesday after announcing a new round of funding for the private electric vehicle (EV) company.

Image of the Rivian R1S at an auto show.
Source: Miro Vrlik Photography / Shutterstock.com

Here’s everything to know about the company as it prepares to launch its first vehicle.

  • Rivian is a company focused on the creation of EVs and currently has a truck and SUV in the works.
  • The truck is the R1T and it features a quad motor with a 300-mile range and 11,000-pound towing capacity.
  • It has a starting price of $67,500.
  • The SUV is the R1S and it also sports a quad motor with a 300-mile range but its towing capacity is only 7,700 pounds.
  • Its starting price is sitting at $70,000.
  • Deliveries of the R1T are set to start in June 2021 with shipments of the R1S making their way to customers in August 2021.
  • The EVs are made by the company at its manufacturing facility in Normal, Ill.
  • Recent news from Rivian includes a round of funding coming to a close.
  • This saw the company raising $2.65 billion from a group of investors advised by T. Rowe Price Associates.
  • Other investors that took part in the funding include Fidelity Management and Research Company, Amazon’s (NASDAQ:AMZN) Climate Pledge Fund, Coatue, and D1 Capital Partners.
  • Rivian notes that this recent funding is the first of 2021.
  • It also mentions that this brings its total amount of funding up to $8 billion since 2019.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2021/01/rivian-news-12-things-to-know-about-the-electric-truck-maker-ahead-of-its-first-vehicle-launch/.

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