Tesla may have made headlines recently when it unveiled the Cybertruck, but it’s not the only game in town. Electric vehicle startup Rivian just announced it has raised an additional $1.3 billion in funding, for a total of nearly $3 billion in 2019.
Although Rivian has yet to produce a single truck, the company has been making waves in the industry, inking deals with Amazon and Ford. Rivian will produce 100,000 vans for Amazon and its technology will be used by Ford in its upcoming electric vehicles.
One of the things that makes Rivian an appealing alternative to Tesla is its more mainstream designs. The Cybertruck’s design have been one of its most polarizing features, looking like it came straight out of a science fiction movie. In contrast, at last year’s Los Angeles Auto Show, Rivian debuted a pickup and SUV that had a much more traditional aesthetic.
According to Rivian, Amazon, Ford and funds managed by BlackRock were part of this round of investment.
“Starting with a clean sheet, Rivian has developed its vehicles with adventurers at the core of every design and engineering decision,” according to the press release. “The company’s launch products, the R1T and R1S, deliver up to 400+ miles of range and provide an unmatched combination of performance, off-road capability and utility. These vehicles use the company’s flexible skateboard platform and will be produced at Rivian’s manufacturing plant in Normal, Ill., with customer deliveries expected to begin at the end of 2020.”
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