Electric vehicle startup Rivian got a $1.3 billion funding round led by T. Rowe Price and includes Amazon.com, Ford and BlackRock as additional investors.
The latest funding round is the fourth major investor cash received by Rivian in 2019. The company has apparently raised more than $3 billion since 2018.
Rivian expects to start delivering its first two vehicles, the R1T, an electric pickup truck, and R1S, an SUV, in late 2020. The pickup’s expected retail price is $69,000 and the SUV’ is $72,500.
In late September, Rivian announced that it was collaborating with Amazon to develop an electric delivery van using the electric-truck company's platform. Amazon has placed orders with Rivian for the delivery of 100,000 EV delivery trucks, with the first batch of vehicles to start rolling off in 2021. In February, Amazon revealed that it was investing $700 million in Rivian.
In April, Ford announced its plans to invest $500 million in Rivian.