Electric vehicle startup Rivian gets $2.5B in added funding
J.B. Pritzker, left, talks with RJ Scaringe, CEO of Rivian Automotive, about the company's innovative electric vehicle chassis called a "skateboard" during Rivian's public rollout of its new prototype vehicles in Normal, Ill. Electric vehicle startup Rivian says it has raised another $2.5 billion in funding from accounts advised by investment firm T. Rowe Price. The company has a contract with Amazon to build 100,000 electric delivery vans starting next year at its factory, a former Mitsubishi plant in Normal, Illinois. The new investment won't bring any more seats to the Rivian board, the company said. In April of 2019, Ford invested a half-billion dollars into Rivian and said the companies would work jointly to develop electric vehicles. That deal was in addition to a $700 million investment from Amazon that was announced in February of 2019.