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let, the RIVer run?!.....electric vehicle startup, Rivian, gets $2.65 billion from T.Rowe Price.....
Posted by: NewtonMP2100
Date: January 19, 2021 10:02PM
....investment.....


Electric vehicle startup Rivian adds $2.65 billion investment led by T. Rowe Price

.....Rivian, an electric vehicle startup backed by Amazon.com Inc AMZN.O and Ford Motor Co that aims to put an electric pickup and SUV in production this year, on Tuesday announced a $2.65-billion investment round led by T. Rowe Price.

Rivian said it has raised $8 billion since the start of 2019. The California company’s new valuation with this latest investment is $27.6 billion, according to a person familiar with Rivian’s financials.

“This is a critical year for us as we are launching the R1T (pickup), the R1S (SUV) and the Amazon commercial delivery vehicles,” Rivian Chief Executive Officer R.J. 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.”

Rivian has said deliveries of pickups would start in June, while those of SUVs would begin in August. Launch editions of the vehicles are priced at $75,000 and $77,500, respectively, with a 300-mile (480 km) driving range for both.

Amazon ordered 100,000 electric vans from Rivian. The first Amazon vehicles go into production at Rivian’s factory in Normal, Illinois in late 2021, with all deliveries to be completed by 2024.

Rivian plans to follow those products with smaller models targeted at China and Europe, Scaringe told Reuters in November.

Tuesday’s funding round also includes Fidelity Management and Research Company, Amazon’s Climate Pledge Fund, Coatue and D1 Capital Partners. Several other existing and new investors will also participate.

T. Rowe Price led a $2.5 billion funding round into Rivian last July.

Other previous investors in Rivian include Soros Fund Management, BlackRock and Saudi auto distributor Abdul Latif Jameel Co



mo'......money......?!



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Re: let, the RIVer run?!.....electric vehicle startup, Rivian, gets $2.65 billion from T.Rowe Price.....
Posted by: Sarcany
Date: January 19, 2021 10:49PM
I'm not going to be able to afford to get in on the IPO when it happens.



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Re: let, the RIVer run?!.....electric vehicle startup, Rivian, gets $2.65 billion from T.Rowe Price.....
Posted by: testcase
Date: January 20, 2021 12:25AM
That's one heck of a gamble.

If I was in TRP I'd be concerned.
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Re: let, the RIVer run?!.....electric vehicle startup, Rivian, gets $2.65 billion from T.Rowe Price.....
Posted by: Carnos Jax
Date: January 20, 2021 01:08AM
Electric vehicles are the future. You gotta ask yourself will Rivian be a part of that future. Hard to believe it won’t, though I haven’t looked into them much.
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Re: let, the RIVer run?!.....electric vehicle startup, Rivian, gets $2.65 billion from T.Rowe Price.....
Posted by: Thrift Store Scott
Date: January 20, 2021 01:33AM
Quote
Carnos Jax
Electric vehicles are the future. You gotta ask yourself will Rivian be a part of that future. Hard to believe it won’t, though I haven’t looked into them much.

I'm not sold on the whole electric car thing yet, but I will say that Rivian's prototype(s) look much more realistic and production-ready than most of the other electric car start-ups I've seen.

Rivian's styling is strongly reminiscent of and shares several distinct details with some Ford advanced design show vehicles from a few years back, so I'm guessing their chief stylist is a former Ford guy who had some rank.

[rivian.com]



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Edited 1 time(s). Last edit at 01/20/2021 01:34AM by Thrift Store Scott.
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Re: let, the RIVer run?!.....electric vehicle startup, Rivian, gets $2.65 billion from T.Rowe Price.....
Posted by: RAMd®d
Date: January 20, 2021 01:34AM
Two Rivian prototypes were used in a Long Way Up road trip, third in a series, with Ewan McGregor and Charley Boorman.

The final assembly of the Rivians was finished only scant hours before the journey was stands-up.

They wanted to ride two electric H-D Livewires (also prototypes) 13,000mi from Ushuaia, Tierra del Fuego, Argentina, to LA, CA.

It was an enjoyable series (for me, and that's what counts) of 10 or 12 episodes with another 83min episode of outtakes.

I don't know that they lads had a specific point to make, but overall, I did enjoy the series.

McGregor managed to attract some attention in a few countries.

The support crew tried to set up some charging stations along the route but the effort fell far short of any meaningful infra-structure.

Despite various setback they cracked on, and for prototypes, all machines did quite well.




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Re: let, the RIVer run?!.....electric vehicle startup, Rivian, gets $2.65 billion from T.Rowe Price.....
Posted by: ztirffritz
Date: January 20, 2021 08:28AM
It’s not a gamble at all. Aside from Tesla, no one else stands in the way of Rivian. They stand to make a fortune and expand rapidly. Amazon has ordered thousands of electric delivery vehicles from them already. They’ve been in development for >13 years. Their prototypes drove from Patagonia to LA without a hitch across deserts, snow, swamps, rocks...all on film for The Long Way Up.



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Re: let, the RIVer run?!.....electric vehicle startup, Rivian, gets $2.65 billion from T.Rowe Price.....
Posted by: Speedy
Date: January 20, 2021 02:35PM
Quote
ztirffritz
It’s not a gamble at all. Aside from Tesla, no one else stands in the way of Rivian.

Ford might disagree.



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Re: let, the RIVer run?!.....electric vehicle startup, Rivian, gets $2.65 billion from T.Rowe Price.....
Posted by: sekker
Date: January 20, 2021 02:41PM
Quote
Speedy
Quote
ztirffritz
It’s not a gamble at all. Aside from Tesla, no one else stands in the way of Rivian.

Ford might disagree.

Ford has the exact same concerns Tesla weathered as recently as 2 years ago - have they completely remodeled their supply chain? That is, even if they can make 100 production vehicles that the public likes, can they make 100,000 or 1,000.000?

This is a serious concern as so few of the ICE components are used in an EV.
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Re: let, the RIVer run?!.....electric vehicle startup, Rivian, gets $2.65 billion from T.Rowe Price.....
Posted by: MrNoBody
Date: January 20, 2021 07:01PM
Quote
Speedy
Quote
ztirffritz
It’s not a gamble at all. Aside from Tesla, no one else stands in the way of Rivian.

Ford might disagree.
As might Daimler, Toyota, & V.A.G.

I would hope TRP could get Rivian to consolidate a few of their far flung
facilities and centralize around the Normal, IL plant.



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Edited 1 time(s). Last edit at 01/20/2021 07:02PM by MrNoBody.
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Re: let, the RIVer run?!.....electric vehicle startup, Rivian, gets $2.65 billion from T.Rowe Price.....
Posted by: bobinmurphy
Date: January 21, 2021 06:48AM
Quote
Carnos Jax
Electric vehicles are the future. You gotta ask yourself will Rivian be a part of that future. Hard to believe it won’t, though I haven’t looked into them much.

Yeah, electric cars were "the next big thing" 100 years ago too and look what happened.
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Re: let, the RIVer run?!.....electric vehicle startup, Rivian, gets $2.65 billion from T.Rowe Price.....
Posted by: Speedy
Date: January 21, 2021 11:10PM
Quote
bobinmurphy
Quote
Carnos Jax
Electric vehicles are the future. You gotta ask yourself will Rivian be a part of that future. Hard to believe it won’t, though I haven’t looked into them much.

Yeah, electric cars were "the next big thing" 100 years ago too and look what happened.

Yup, horses and buggies made a big comeback.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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