In the past two years, Rivian has raised $5.4 billion, a $2.5 billion round was completed last week. They have orders from Amazon to build 100,000 electric delivery vans. Their top investors include the Soros Fund, BlackRock, Amazon, Ford and Cox Automotive.
However, COVID-19 has slowed down production:
Rivian’s collaboration with Ford has been put on hold and COVID-19 forced it to stop work at its factory, which delayed its RT1 and RS1 projects. Earlier this year, Lincoln Motor, the luxury brand under Ford, canceled plans to build an all new electric vehicle based on Rivian’s skateboard platform.
Rivian gets a fraction of the press of Tesla but it may be the better long-term bet if it’s recharging infrastructure is adopted as the industry norm.
“Sculptors are the unsung heroes of the automotive industry,” Germain Simoneau professes and grins without taking his eyes off the steering wheel he’s meticulously shaping. “While we may not design the vehicles, it’s our job to interpret a sketch and materialize the designer's vision. Clay is the ideal medium for refining an idea — there are subtleties that the eye can’t pick up that the hands can,” he says.