Rivian announced an equity investment round of $700M led by Amazon. The investment comes on the heels of Rivian’s reveal of the all-electric R1T pickup and R1S SUV at the LA Auto Show last November. (Earlier post.)
GM was also reported to have an interest in an investment in the company.
Starting with a clean sheet, Rivian has developed its vehicles with adventurers at the core of every design and engineering decision. The company’s launch products, the R1T and R1S, deliver up to 400+ miles of range, with up to 180 kWh of storage in the battery pack.
The Rivian electric drive features four independent motors, with 200 horsepower available at each wheel. Precise torque control enables active torque vectoring and maximized performance.
These vehicles use the company’s flexible skateboard platform and will be produced at Rivian’s manufacturing plant in Normal, Ill., with customer deliveries expected to start in late 2020.
Rivian Skateboard Platform
This investment is an important milestone for Rivian and the shift to sustainable mobility. Beyond simply eliminating compromises that exist around performance, capability and efficiency, we are working to drive innovation across the entire customer experience. Delivering on this vision requires the right partners, and we are excited to have Amazon with us on our journey to create products, technology and experiences that reset expectations of what is possible.—RJ Scaringe, Rivian Founder and CEO
Rivian will remain an independent company. Amazon is leading the round, which includes participation from existing shareholders. Additional details about this investment are not being disclosed at this time.
Following the US launch of the R1T and R1S in late 2020, Rivian will introduce the vehicles to other global geographies starting in 2021. Rivian is now accepting preorders on its R1T and R1S.