Automaker Rivian said Monday it closed on a $1.3 billion funding round, bringing its total raised to date to nearly $3 billion.
The company, which is headquartered in Michigan and with multiple offices including a sizeable R&D facility in Irvine, said this latest round was led by T. Rowe Price Associates Inc. and also included Amazon, Ford Motor Co. and BlackRock-managed funds.
Investors participating in the company’s past rounds include Amazon, Ford Motor Co. and, more recently, Cox Automotive.
Rivian’s debut vehicles, the R1T and R1S, are expected to roll out to customers in late 2020.
