Big Investment Money Pouring into EVs
Wall Street's $1.3 Billion Bet on EV Startup Rivian
Unique EV "Skateboard Technology" for Cars, Trucks, SUVs
The 2020's are going to be hot growth years for electric vehicles. Detroit-based EV startup Rivian just closed on a $1.3 billion investment round led by T. Rowe Price. The Wall Street investors are joined by existing stakeholders Ford and Amazon.
Rivian's Differentiator: Unique Technology
Rivian's technological approach to electric vehicles is unique. It has a patented "skateboard" design. The skateboard is the chassis that bundles the electric motors, batteries and controls. Moreover, the skateboard design can accommodate a variety of models and body styles. That's just one of the unique aspects of Rivian that attracted Ford to invest $500 million in the startup company.
Big 2020 Development Plan
Rivan is currently valued at $5 to $7 billion. It previously raised $2.2 billion from investors. It plans to build its all electric pickup truck, the R1T, in late 2020, along with the R1S SUV. Also, Ford's all- electric Lincoln SUVs will be built on Rivian skateboards starting in 2022.
Accelerating Electric Vehicle Competition
In the global EV industry, Tesla is the strongest and most established player. But the $1.3 billion latest investment in Rivian places it as one of the industry's better financed players. In China and Europe, there's a tremendous push to bring EVs to market to meet toughening emissions standards. In the US, GM and Ford are pouring billions of dollars into EV development.
Wall Street and Amazon Betting on This
Amazon has invested $700 million in Rivian. And, it has ordered 100,000 electric delivery trucks to be built in 2022. T. Rowe Price says Rivian is pushing the innovation frontier forward with its "sustainable transport solutions for consumers and business". Clearly, the electric vehicle sector and startup Rivian are emerging investment opportunities to watch for breakthrough global innovations for investors to explore.
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| Source: Rivian R1S SUV |
Unique EV "Skateboard Technology" for Cars, Trucks, SUVs
The 2020's are going to be hot growth years for electric vehicles. Detroit-based EV startup Rivian just closed on a $1.3 billion investment round led by T. Rowe Price. The Wall Street investors are joined by existing stakeholders Ford and Amazon.
Rivian's Differentiator: Unique Technology
Rivian's technological approach to electric vehicles is unique. It has a patented "skateboard" design. The skateboard is the chassis that bundles the electric motors, batteries and controls. Moreover, the skateboard design can accommodate a variety of models and body styles. That's just one of the unique aspects of Rivian that attracted Ford to invest $500 million in the startup company.
Big 2020 Development Plan
Rivan is currently valued at $5 to $7 billion. It previously raised $2.2 billion from investors. It plans to build its all electric pickup truck, the R1T, in late 2020, along with the R1S SUV. Also, Ford's all- electric Lincoln SUVs will be built on Rivian skateboards starting in 2022.
Accelerating Electric Vehicle Competition
In the global EV industry, Tesla is the strongest and most established player. But the $1.3 billion latest investment in Rivian places it as one of the industry's better financed players. In China and Europe, there's a tremendous push to bring EVs to market to meet toughening emissions standards. In the US, GM and Ford are pouring billions of dollars into EV development.
Wall Street and Amazon Betting on This
Amazon has invested $700 million in Rivian. And, it has ordered 100,000 electric delivery trucks to be built in 2022. T. Rowe Price says Rivian is pushing the innovation frontier forward with its "sustainable transport solutions for consumers and business". Clearly, the electric vehicle sector and startup Rivian are emerging investment opportunities to watch for breakthrough global innovations for investors to explore.
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