Aspiring EV maker Rivian wrapped up this week by announcing the completion of another round of fundraising. He brought the company $ 2.5 billion. The main investors this time were Internet trading giant Amazon.com, the auto concern Ford Motor and the American holding company T. Rowe Price, which manages a group of 156 mutual funds.
The announcement came a day after the California-based company said it was considering building a second assembly plant in the United States. Rivian’s Project Tera plant will also be producing battery cells, according to Reuters.
“As we approach the start of car production, it is vital that we continue to look ahead and move towards the next phase of Rivian’s growth,” the director of the company commented on the results of the round.
“This infusion of funds… allows Rivian to ramp up its new vehicle programs, expand our manufacturing footprint domestically and facilitate international product output,” he added.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
