UPDATE, 25 January 2021: Rivian has raised a further US$2.65 billion (AU$3.42 billion) in its latest investment round.
The money means the US electric vehicle (EV) start-up has received more than AU$10.3 billion since the start of 2019. But unlike Tesla, Nikola, and other EV rivals, Rivian remains a private company, yet to be listed on a stock exchange.
At the time of writing, the company was valued at US$27.6 billion, or AU$35.64 billion – roughly the same valuation as Transurban Group, one of Australia's largest infrastructure companies.
13 July 2020: US electric-car start-up Rivian has finalised another investment round of US$2.5 billion (AU$3.6 billion).
The company has raised nearly US$5 billion (AU$7.2 billion) in 2020, adding to the US$2.85 billion (AU$4.1 billion) invested into Rivian in 2019.
While Ford had originally planned to release models based on the Rivian 'skateboard' platform (the term given to the slim underpinnings of electric cars, to which different bodies can be added), the project was cancelled in April 2020. A new model based on the Rivian is still expected to be coming from Ford's luxury sub-brand Lincoln.
In September 2019 Amazon commissioned Rivian to produce 100,000 electric vans, also based on the company's skateboard platform. The skateboard concept allows different vehicle bodies to be fitted to the electric chassis, significantly lowering development costs.
A spokesperson for Rivian told CarAdvice in 2019 the company was planning an Australian launch of the R1T and R1S models as early as 2022.