To begin, Rivian has announced an equity investment round of $700M. Plus the rumors are true, they are led by Amazon. Therefore, this investment comes on the heels of Rivian’s reveal. The reveal of the all-electric R1T pickup and R1S SUV. This was at the LA Auto Show November 2018.
So starting with a clean sheet, Rivian has developed its vehicles with adventurers at the core of every design. Plus every engineering decision. The company’s launching a few products. First off, the R1T and R1S. Those puppies deliver up to 400+ miles of range. What?! In addition give an unmatched combination of performance. That’s because of off-road ability and utility.
As mentioned before, these trucks use the company’s flexible skateboard platform. More importantly, one that is produced at their manufacturing plant in Normal, Ill. All with customer deliveries expected to start in late 2020.
As we know and without question, this is a crazy good investment. This investment is an important deal for Rivian.
RJ Scaringe, Rivian Founder and CEO said, “Beyond simply eliminating compromises that exist around performance, ability and efficiency. We are working to drive innovation across the entire customer experience. Delivering on this vision requires the right partners. So it’s exciting to have Amazon with us on our journey to create products. As well as technology and experiences. All of these reset expectations to what is possible.
“We’re inspired by Rivian’s vision for the future of electric transportation,” said Jeff Wilke, Amazon CEO Worldwide Consumer. “RJ has built an impressive organization, with a product portfolio and technology to match. We’re thrilled to invest in such an innovative company.”
In conclusion, Rivian will remain an independent company. Amazon is leading the round, which includes participation from existing shareholders. Finally, additional details about this investment are not being disclosed at this time.
The Green Living Guy, Seth Leitman is a green living expert, celebrity and Editor of the McGraw-Hill, TAB Green Guru Guides. Seth is also an Author, Radio Host, Reporter, Writer and a Environmental Consultant on green living. The Green Living Guy writes about green living, green lighting, the green guru guides and more. Seth's books range from:
# Build Your Own Electric Vehicle by Bob Brant and Seth Leitman (2nd and 3rd editions)
# Build Your Own Plug-in Hybrid Electric Vehicle by Seth Leitman
# Build Your Own Electric Motorcycle by Carl Vogel
# Green Lighting by Seth Leitman, Brian Clark Howard and Bill Brinsky
# Solar Power For Your Home by David Findley
# Renewable Energies For Your Home by Russel Gehrke
# Do-it-Yourself Home Energy Audits by David Findley
# Build Your Own Small Wind Power System by Brian Clark Howard and Kevin Shea
# and more green living books to follow.