Rivian Revs Up Manhattan Beach Streets With Sleek Unique Look

MANHATTAN BEACH, CA — Ever heard of a Rivian? Well, if you were hanging around Downtown Manhattan Beach this morning, you may have seen one without even knowing it. On the other hand, it's a sight you would notice, that is if you saw a Rivian R1T or R1S. The all-electric automotive company's first two vehicles, the R1T and the R1S, offer an "unmatched combination of performance, off-road capability and utility," according to a Rivian news release. And they're not scheduled for delivery to customers until this summer.

In a news release, Rivian noted the following:

Rivian has closed an investment round of $2.65 billion. The financing was led by funds and accounts advised by T. Rowe Price Associates, Inc. This round also included Fidelity Management and Research Company, Amazon’s Climate Pledge Fund, Coatue and D1 Capital Partners as well as several other existing and new investors.

“This is a critical year for us as we are launching the R1T, the R1S and the Amazon commercial delivery vehicles. The support and confidence of our investors enables us to remain focused on these launches while simultaneously scaling our business for our next stage of growth,” said Rivian Founder and CEO RJ Scaringe.

“We have been eagerly anticipating the arrival of 2021, and with it, the exhilaration of Rivian starting to deliver its revolutionary products to customers. It is invigorating for us to continue our journey with such a talented, mission-driven team building a robust organization for the long term,” said Joe Fath, T. Rowe Price portfolio manager.

The investment announcement is Rivian’s first in 2021 and the company has now raised $8 billion since the start of 2019.