Amazon didn’t reveal any details about the vehicle’s drivetrain, battery, range, or other relevant specifications. Rivian was founded in 2009 and originally set out to build a Tesla Roadster-style sports car, but ultimately pivoted to designing an electric pickup truck and SUV. Last year, Rivian was able to secure enormous investments from a host of major players, including Amazon. Rivian is working with Ford on developing an electric vehicle for its Lincoln brand (though one project was already scrapped due to the coronavirus pandemic), and it is building a massive fleet of electric delivery vans for Amazon. Amazon originally announced the new delivery van as part of its climate pledge to become a carbon-neutral company by 2040. The startup has grown rapidly since then. Rivian raises $2.5 billion ahead of launch of electric pickup and SUV, 4K TVs from Toshiba and LG are up to $500 off at Amazon and Best Buy, Plus, get discounts on Halo: The Master Chief Collection for PC, Samsung’s Galaxy Buds Live wireless earbuds are $35 off at Woot today, Sign up for the The huge influx of money helps further establish Rivian’s position as what is likely the most well-capitalized EV startup in the world. It's been taking $1,000 preorders on the R1T and R1S for a while now, but the company so far has kept the number of preorders it's received to itself. About 10,000 electric vehicles will be on the road as early as 2022 and all 100,000 vehicles will be on the road by 2030, Amazon said in a statement Thursday. We wanted drivers to love using it and customers to feel excited when they saw it driving through their neighborhood and pulling up to their home,” said Ross Rachey, director of Amazon’s global fleet and products, in a statement. Correction October 8th, 10:36AM ET: Rivian’s July 2020 fundraising round of $2.5 billion was led by T. Rowe Price and included Amazon. Word 'round the campfire is that Rivian's new EVs will start at less than the previously announced $70,000 … Jeff Bezos’ company led a $700 million funding round in February 2019, but it did not disclose the exact amount it was contributing. Also, Rivian does not have a headquarters but has offices in Michigan, California, Illinois, Canada, and the UK. “We combined Rivian’s technology with our delivery logistics knowledge, and the result is what you see here — the future of last mile delivery.”. Rivian didn't immediately respond to Roadshow's request for comment. A previous version of this story misstated that fact. Rivian is a relatively new name in the electric vehicle industry, having only debuted its pickup truck and SUV at the end of November 2018 — despite having operated in stealth since 2009. Discussion threads can be closed at any time at our discretion. And not only has it taken in an incredible amount of money, but some of those deals are strategic, too. © CBS Interactive Inc. All Rights Reserved. Most intriguingly, there will “‘dancefloor’ inside the driver’s cabin for easy movement inside the van,” Amazon says. In April, Ford announced a $500 million investment in Rivian that the companies said would result in a new electric vehicle to be sold by the auto giant. The e-commerce giant says it expects to have 10,000 vans on the road making deliveries “as early as 2022,” with a total fleet of 100,000 vehicles expected by 2030. The new funding comes from Soros Fund Management LLC, Coatue (a hedge fund), Fidelity Management and Research Company, and investment firm Baron Capital Group. The EV startup has raised $5.35 billion since the beginning of 2019. The driver-side door will be strengthened for added protection, while the rear of the vehicle will have three levels of shelving with a bulkhead door for quick access. Most recently, Rivian landed a $350 million investment from Cox Automotive, a big name in the retail and logistics space. Originally founded to make something that competed with Tesla’s first car, the Lotus-based Roadster, Rivian CEO RJ Scaringe eventually pivoted the company toward a more action-adventure customer segment. Amazon unveiled its first all-electric delivery van on Thursday. We don't know, but the R1T didn't seem like that bad a deal at $70,000, so anything less is just icing on the cake as far as we're concerned. So, the hype for Rivian's R1T electric truck and its R1S SUV sibling is palpable. Rivian has pushed the … How much lower? The vehicle, built by EV startup Rivian, will come with state-of-the-art technology, like sensing equipment and an advanced driver-assist system. See, according to a Reuters report Monday, Rivian will be unveiling official pricing for its vehicles soon, and the company says to expect them to come in lower than previously stated. Rivian planning a price drop on the electric R1T truck and R1S SUV, report says. These vehicles promise a ton of performance in a not-totally-insane-looking package for a reasonable amount of cash -- they were supposed to start around $70,000, and that last bit might be changing. We'd bet that the entry-level model with the smallest range will enter the market somewhere in the mid-to-high $50,000 range, but that's just an educated guess. Amazon and another previous investor, BlackRock, also participated in the funding round, which was advised by T. Rowe Price. Built on the same technological platform, Rivian claims its vehicles — which will start at around $70,000 — will be able to travel up to around 400 miles on a single charge, hit 60 miles per hour in under three seconds, and eventually be able to drive themselves in some capacity. Patent Suggests Rivian's Electric Trucks Will Charge Faster Than Rivals Rivian Hires Former Tesla Employees To Deploy Its Public Fast-Chargers ⠀ Rivian R1T Electric Pickup Truck Is … newsletter, pivoted the company toward a more action-adventure customer segment, $2.5 billion in a round led by T. Rowe Price, originally announced the new delivery van. The delivery giant aims to have 10,000 vehicles on the road by 2022. Rivian was founded in 2009 and originally set out to build a Tesla Roadster-style sports car, but ultimately pivoted to designing an electric pickup truck and SUV. (That vehicle has been delayed by the COVID-19 pandemic.) These futuristic-looking electric off-roaders could be getting a price drop before they launch. Rivian has shown off two vehicles so far: the R1T pickup and the R1S SUV. It did not include Ford and Cox. Word 'round the campfire is that Rivian's new EVs will start at less than the previously announced $70,000 range. Rivian will offer a 180-kWh battery pack for the R1T and R1S, but those trucks will make 700 hp. Changing for the better, to be more specific. newsletter, This startup is building self-driving trucks and SUVs for futuristic off-road adventures. “When we set out to create our first customized electric delivery vehicle with Rivian, we knew that it needed to far surpass any other delivery vehicle. $5.35 billion of that has come in the last year and a half alone, with Rivian scooping up big investments from Ford, Amazon, and Cox Automotive in 2019. (I guess that means we can expect a lot of delivery driver TikTok videos in the future.). It will also bolster the company’s massive growth, as it has already opened up a half-dozen offices in and outside of the US and hired around 2,400 people. Amazon unveils its new electric delivery vans built by Rivian, Pokémon Sword and Shield are $40 each at Amazon and Best Buy, 4K TVs from Toshiba and LG are up to $500 off at Amazon and Best Buy, Plus, get discounts on Halo: The Master Chief Collection for PC, Samsung’s Galaxy Buds Live wireless earbuds are $35 off at Woot today, Sign up for the EV startup Rivian has raised $2.5 billion, bringing its total funding to date to around $6 billion ahead of the launch of its all-electric pickup truck and SUV in early 2021. We delete comments that violate our policy, which we encourage you to read. Just in case you need a little Rivian refresher, the company was founded in 2009, has secured over $3.5 billion in funding and plans on offering its vehicles with ranges that go from 230 miles on the low end to around 400 miles on the high end. And then, in July 2020, the company pulled in its biggest sum yet: $2.5 billion in a round led by T. Rowe Price, which included Amazon again. It stayed extremely quiet for nearly a decade, only emerging from stealth mode in mid-2018 ahead of the launch of its first two vehicles, the R1T (the pickup) and the R1S (the SUV), at that year’s LA Auto Show. Rivian is a relatively new name in the electric vehicle industry, having only debuted its pickup truck and SUV at the end of November 2018 — despite having operated in stealth since 2009. Much like most modern cars on the road, the van will have exterior cameras linked to a digital display inside the cabin, giving the driver a 360-degree view outside the vehicle. Be respectful, keep it civil and stay on topic. Naturally, it will also come integrated with Amazon’s Alexa voice assistant for hands-free navigation help and weather updates.
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