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Rivian pick up Cox Automotive investment

18 September 2019 #CV Sector #News #TNB News

US-based electric vehicle manufacturer Rivian has received a $350 million boost in the shape of an equity investment by Cox Automotive.

In addition to the investment, the companies will work together to explore partnership opportunities in service operations, logistics, and digital retailing.

The R1T pickup. Photo by Ben Moon.

The move comes as Rivian continues to take orders for its first two models, one of which – the R1T truck – is a pure electric pick-up claimed to offer a range of up to 400 miles.

And it follows two other huge investments earlier in 2019 – a $700 million investment led by Amazon in February, and $500 million from Ford in April.

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