Rivian Automotive Stock
Sustainable automotive technology
About Rivian Automotive Stock
EquityZen's Take: The New Electric Truck on the Block
Do you hear that? Probably not, because electric vehicles are notoriously quiet compared to their gasoline and diesel counterparts. And their popularity around the globe is growing rapidly.
Rivian Automotive is bringing the EV movement to the outdoors. Their two flagship vehicles - the R1T and R1S - are fully-electric adventure-mobiles designed to reduce the impact on the environment and simultaneously help people spend more time outdoors. Their motto, “keep the world adventurous forever”, speaks to this plainly.
The R1 comes in two models: the “T” model is the Rivian Truck and the “S” model is the Rivian SUV. The spec pages for both models point to their ruggedness with highlights like a wading depth of over 3 feet, a quad-motor system (think all-wheel drive), and built-in lockbox storage.
Rivian was founded in 2009 but has gained a significant amount of steam (battery power?) in the last few years. Rivian has had a mega-funding year in 2019, raising $700 million in a round led by Amazon in February, $500 million in April from Ford Motor, and an additional $350 million from Cox Automotive in September, for a total of $1.55 billion in funds raised this year alone.
While Rivian’s initial efforts are on producing the R1T and R1S - with first deliveries scheduled for the end of 2020 and early 2021 - investments from major automotive and tech companies suggest there is more in the pipeline for this ambitious electric vehicle startup.
Sumitomo Corporation of America
Founder & Chief Executive Officer
Robert J. Scaringe
GreenBiz - Jan, 13 2020
The State Journal-Register - Dec, 25 2019
TechCrunch - Sep, 10 2019
TechCrunch - Jul, 8 2019
Forbes - Jul, 2 2019
TechCrunch - May, 17 2019