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Rivian announced the completion of a $ 2.65 billion financing round, bringing the total amount the initial electric carmaker raised to $ 8 billion as it prepares to start production later this year.
Rivian said that Amazon’s current stakeholder participated through the Amazon Climate Pledge Fund, along with T. Rowe Price, Fidelity, Coatue, D1 Capital Partners and several other investors.
A source told Reuters that the private company now has a valuation of $ 27.6 billion.
Rivian, in which Ford invested $ 500 million in 2019, is scheduled to launch its own midsize R1T pickup and an electric delivery van designed exclusively for Amazon later this year.
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Both vehicles will be built at the Rivian plant in Normal, Illinois, and will be followed by an SUV in 2022.