Startup EV Rivian Raises $ 2.65 Billion in New Funding Round Led by T. Rowe Price

Rivian, the electric vehicle start-up backed by Amazon and Ford Motor, announced its closure on Tuesday a $ 2.65 billion investment round led by T. Rowe Price funds as the company moves closer to producing a fully electric pickup and SUV.

The company has raised around $ 8 billion since 2019. Rivian closed a $ 2.5 billion investment round last year, also led by T. Rowe Price; a funding cycle of $ 1.3 billion in December 2019; and had raised at least $ 1.5 billion before that.

Other participants in the cycle included Fidelity, Amazon’s Climate Pledge Fund, Coatue and D1 Capital Partners as well as several other existing and new investors, according to the company.

Rivian is expected to be among the first, if not the first, to bring a fully electric pickup to market later this year.