Amazon-backed Rivian closes $2.65 billion funding round - Business Insider

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Amazon-backed Rivian closes $2.65 billion funding round as it prepares to ship its first electric SUVs and pickups

Early Rivian investors explain the 3 factors that could make the Amazon-backed startup the next Tesla

Those deep pockets should come in handy this year, as Rivian gears up to start delivering its first two consumer EVs: the R1T pickup and R1S SUV. Launch-Edition models are set to hit streets this summer, with cheaper entry-level versions arriving in 2022. , which has ordered 100,000 units to be rolled out over the next several years. The firm plans to deliver the first of those vans this year.

"This is a critical year for us as we are launching the R1T, the R1S and the Amazon commercial delivery vehicles," Rivian founder and CEO RJ Scaringe said in a statement. "The support and confidence of our investors enables us to remain focused on these launches while simultaneously scaling our business for our next stage of growth."A recap of all things electric vehicles, ride-hailing, airlines, and more. Sign up for Insider Transportation.

 

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