The investment round of $2.5 billion comes as the electric vehicle startup retools its factory to produce its three electric vehicles starting in 2021.
Rivian has closed an investment round of $1.3 billion, the fourth investment the battery-electric truck and SUV startup will receive in 2019.
Battery-electric truck and SUV startup Rivian has added a third, large investor this year with a $350 million stake from Cox Automotive, the company announced today.
Ford Motor Co. is investing $500 million in Rivian and will use its "skateboard" platform for a new battery-electric vehicle to bring expanded electrification to its lineup.
As it builds out its delivery fleet, Amazon is moving toward using a battery-electric delivery vehicle produced by Rivian Automotive. Amazon is leading a $700-million investment in the company.