Due to the EU’s Global Data Protection Regulation, our website is currently unavailable to visitors from most European countries. We apologize for this inconvenience and encourage you to visit www.motortrend.com for the latest on new cars, car reviews and news, concept cars and auto show coverage, awards and much more.MOTORTREND.COM
  • |
  • |
  • Rivian Receives $700 Million Investment Round Led by Amazon

Rivian Receives $700 Million Investment Round Led by Amazon

Feb 15, 2019
Rivian, the all-electric automaker behind the R1T pickup and R1S sport-ute, announced a $700 million equity investment round led by tech giant Amazon. The announcement comes three months after the company showed off its first vehicles, the aforementioned R1T and R1S, at the 2018 Los Angeles Auto Show.
Photo 2/17   |   2021 Rivian R1s Exterior Wheel
"We're inspired by Rivian's vision for the future of electric transportation," said Jeff Wilke, Amazon CEO Worldwide Consumer. Wilke also said that the company is excited to invest in an innovative company “with a product portfolio and technology to match.”
Rivian will be able to leverage its financial tie-up with Amazon to “drive innovation across the entire customer experience,” said RJ Scaringe, the company’s founder and CEO. That could mean that Rivian is targeting a subscription model of car ownership not unlike Care by Volvo, and it could also mean that the electric automaker is considering direct sales that circumvent individual franchised dealers, à la Tesla.
Photo 3/17   |   2021 Rivian R1s Exterior Headlight
Neither Amazon nor Rivian have released details about the investment round, which includes participation from the latter company’s existing shareholders. But the big influx of cash should likely help Rivian put its production-intent concepts in customers’ hands in time for a late-2020 launch, as the company projected in its press conference in Los Angeles last year.
Source: Rivian
Photo 4/17   |   Rivian R1S 1

POPULAR TRUCKS

MOST POPULAR

Subscribe Today and Save up to 83%!

Subscribe Truck Trend Magazine

Subscribe to:

Truck Trend
Magazine

PRINT DIGITAL
Subscribe Diesel Power Magazine

Subscribe to:

Diesel Power
Magazine

PRINT DIGITAL
Subscribe Truckin Magazine

Subscribe to:

Truckin
Magazine

PRINT DIGITAL
SUBSCRIBE TO A MAGAZINE
CLOSE X
BUYER'S GUIDE
SEE THE ALL NEW
NEWS, REVIEWS & SPECS