Ford and Amazon increase their bet on Rivian with a new round of investment that will amount to $ 2, 368 million , as reported by Yahoo Finance. Both companies seek to boost the development and production of electric vehicles of the startup that, in recent weeks, has increased its fame due to the launch of the New Shepard, the rocket developed by Jeff’s aerospace company. Bezos, founder of Amazon. Rivian was one of the protagonists of this historical event since its new electric SUV, the R1S, was the one who took the astronauts to the launch pad .
After this fact, Jeff Bezos himself mentioned that he would give greater impetus to this company, which is also committed to building a fleet of electric delivery trucks for Amazon . But the history between Amazon and Rivian has already existed for two years, the date of their first investment. The same happened with Ford and with T. Rowe Price Group Inc., another company that completes the trinity of Rivian’s main investment funds.
T. Rowe Price Group Inc. has also made investments in Tesla in the past, but abandoned its participation in the company in the year that it decided to invest in Rivian , a fact that ended up demarcating, much more, the rivalry between the two companies , a rivalry marked not only by electrical technology but by the launch of Tesla’s Cybertruck, which will begin production later this year, according to some media .
Like Lucid Motors, which started its operations on the stock market yesterday thanks to its merger with Churchill Capital Corp IV , Rivian will be able to accelerate the development and production of the R1T and R1S, the electric truck and the electric SUV of the brand that represents They will make their debut in the automotive industry when the first deliveries are finally made, which have been postponed several times. This investment round will also benefit the full development of its factory in Normal, Illinois.
According to the most recent reports, Rivian has delayed deliveries of its R1T to September and the brand’s fully electric SUV is expected to hit the market next year .
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Lucid Motors is already listed on Wall Street