Electric vehicle innovator Rivian secures new investment

Reuters reports that Rivian has secured a new US$ 2.65 billion investment round, led by T. Rowe Price, bringing its total investment since 2019 to US$ 8 billion.  

The news outlet quotes Rivian CEO RJ Scaringe, who said in a statement: 

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

The report also cites previous investors in Rivian including Soros Fund Management, BlackRock and Abdul Latif Jameel.

JIMCO, the global investment arm of the Jameel Family, was one of the early investors in Rivian and is an active investor in the future of mobility.  Abdul Latif Jameel targets sustainable solutions as a vital contribution to a more mature mobility future.