Rivian is in the midst of a new round of funding that could value it at roughly $25 billion.
It is reported that several of Rivian’s current investors are participating in the latest funding round. While it is unclear who they were, some of Rivian’s key existing investors include Amazon, T. Row Price Group, BlackRock, Soros Fund Management, Coatue, Fidelity Investments and Baron Capital Group.
In a statement issued to Bloomberg, a representative from the electric startup said: “We are focused on delivering the R1T, R1S, and Amazon delivery vehicles in 2021. We often speak to investors, and we have no announcement to make at this time.”
Bloomberg understands the new funds will add to the $6 billion that Rivian has already raised.
The first model from Rivian set to reach the hands of customers will be the R1T Launch Edition, with deliveries penciled in for June. Prices start at $75,000 and it will be followed up by the R1T Adventure and R1T Explore in January 2022, priced at $75,000 and $67,500 respectively before the $7,500 federal tax credit.
Arriving soon after the R1T will be the R1S, an all-electric SUV based on Rivian’s skateboard platform. It should land in customer driveways in August 2021 and will also be sold initially in Launch Edition form and priced from $77,500. Deliveries of the $77,500 R1S Adventure and the $70,000 R1S Explore will both commence in January 2022.