"We are building a Rivian ownership experience that matches the care and consideration that go into our vehicles," said RJ Scaringe, founder and CEO of Rivian, in a statement. "Cox Automotive's global footprint, service and logistics capabilities, and retail technology platform make them a great partner for us."
RJ Scaringe, founder and chief executive officer of Rivian Automotive, speaks after unveiling the R1S electric sports utility vehicle .Both companies declined to comment on the amount of equity Cox Automotive will receive with the investment. Rivian plans to produce vehicles at a former Mitsubishi Motors plant in Normal, Illinois, that it acquired in 2017. After being formed a decade age, the company had its coming out party by unveiling two all-electric vehicles, the R1T pickup and the R1S SUV.
Deliveries of the vehicles are expected to begin in late 2020, followed four additional products through 2025.The vehicles are expected to offer up to 400 miles of range and an "unmatched combination of off-road utility and high performance," according to the company. All-electric pickups and SUVs are potentially major new markets for established automakers as well as start-ups. Tesla is expected to unveil an
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »