Rivian secures funding for its electric adventure vehicles

US-based electric vehicle company Rivian has secured a fresh $2.65 billion (£1.9 billion) investment injection. This will allow the company to kick-start the production of its first models of adventure EVs.

Rivian is aiming to launch two new models of electric vehicles in 2021. The first is the R1T electric pick-up truck followed by the R1S four-wheel-drive SUV. The US-company isn’t just focusing on these new models, though, it’s preparing to provide the chassis for 100,000 new delivery vehicles for Amazon — one of the companies that have recently invested. These delivery trucks should be making deliveries by the end of this year.

In Europe, Rivian is planning a smaller SUV model that will launch in 2022. This investment is a fantastic first step towards what Rivian is calling its ‘adventure’ models. The R1S has been tested in extreme temperatures to make sure the vehicle can traverse all sorts of terrain in different climates.

It’ll do 0-60 in three seconds, can tow an estimated 7,700lbs, and can wade through up to three feet of water. That’s one tough EV. As with many new electric cars coming to market, it also has driver assistance features that will do a lot of the hard work for you; changing lanes and slowing down at your command.

“The support and confidence of our investors enables us to remain focused on these launches while simultaneously scaling our business for our next stage of growth,” Rivian CEO RJ Scaringe said in a statement.

Jess Shanahan

Author:Jess Shanahan
Date Updated:20th Jan 2021

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