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Rivian, the adventure-driven automaker planning to produce a truck and SUV, raised $ 350 million from global automotive services company Cox Automotive.
The two companies also announced Tuesday that they "would explore partnership opportunities in the areas of services, logistics and digital retailing". However, a statement from Rivian's founder and CEO, RJ Scaringe, suggests that this partnership will help the EV startup provide services to its customers.
"We are building a Rivian ownership experience that matches the care and consideration our vehicles receive," said Scaringe. "In this context, we are excited to be working with Cox Automotive to provide a consistent customer experience across our various touch points. Cox Automotive's global footprint, service and logistics capabilities, and retail technology platform make it a partner of choice. "
And Cox Automotive, along with its parent company, Cox Enterprises, has the reach sought by Rivian. Cox Enterprises owns more than 30 automotive brands, including Autotrader, Kelley Blue Book, Pivet, RideKleen and Manheim, which transports, services and sells vehicles at over 150 locations worldwide.
The Cox Automotive partnership follows two other dazzling investments this year. In February, Rivian raised $ 700 million in a round led by Amazon. Two months later, the company announced a $ 500 million investment from Ford Motor.
Despite all these renowned investors, Rivian says that he will remain an independent company, a repeated wish to TechCrunch repeatedly over the last year by Scaringe. Cox Automotive will add a representative to Rivian's board.
"The electrification of vehicles to play an important role in the new future of mobility, this partnership opens another discovery and learning channel for Cox Automotive," said Joe George, president of Cox Automotive Mobility Group. "Advances in battery technology and fleet electrification are two of our main areas of focus and we believe this relationship will prove mutually beneficial."
Rivian spent most of his life in the shadows until November 2018, the year of the revelation of his all-electric R1T pickup and R1S SUV at the Los Angeles Auto Show. Scaringe launched the company under the name Mainstream Motors in 2009. In 2011, the name was changed to Rivian and left Florida. Today, the company employs more than 1,000 people across four development sites in the United States and an office in the United Kingdom. Most of its employees reside in Michigan, at the edge of a vast automotive supply chain.
The company is also present in San Jose and Irvine, California, where engineers are working on autonomous vehicle technology. Rivian also owns a plant in Normal, Illinois, owned by Mitsubishi as part of a joint venture with Chrysler Corporation, Diamond-Star Motors.
Deliveries of these vehicles to customers in the United States using a flexible skateboarding platform are expected to begin at the end of 2020.
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