Rivian have just secured an additional $1.3 billion in funding

Rivian have secured an additional $1.3 billion in funding, with the latest round of investment led by T. Rowe Price Associates (who also own a large stake in Tesla) among many others.

In total Rivian have gained approximately $2.8 billion in financial backing. Key investments include $700 million from Amazon (who want Rivian to build 100,000 delivery vans for them by the mid 2020s) and $500 million from Ford.

Production for the R1T pickup and R1S EUV is still set for late 2020, and with that depth of financial means you’d expect Rivian to meet that target.

Both the R1T and R1S will be capable of over 400 miles with the top-spec, 180kWh battery equipped and are set to start at $69,000 and $72,500 respectively. How do you think Rivian will fair in the ever-growing EV market? Feel free to let us know your thoughts in the replies section below…