Rivian has closed an investment round of $1.3 billion, the fourth investment the battery-electric truck and SUV startup will receive in 2019.
Battery-electric truck and SUV startup Rivian has added a third, large investor this year with a $350 million stake from Cox Automotive, the company announced today.
The investment by IAC makes the media and internet conglomerate the largest shareholder in the peer-to-peer rental company.
Ford Motor Co. is investing $500 million in Rivian and will use its "skateboard" platform for a new battery-electric vehicle to bring expanded electrification to its lineup.
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