Amazon has made another investment in Rivian, the electric vehicle maker which announced Monday that it had raised $1.3 billion in a new funding round. Amazon previously led a $700 million round for the automaker and announced plans to purchase 100,000 electric vans to bolster its delivery fleet.
- Amazon called its order of electric delivery vehicles the largest ever of its kind. CNBC reported that the vans will be built at a former Mitsubishi plant in Normal, Ill., starting in 2021.
- As Amazon has invested heavily on its own delivery infrastructure of trucks, cargo planes and more, the tech giant has also announced steps to try to deal with its significant carbon footprint. Jeff Bezos laid out the company’s “Climate Pledge” this fall and as Prime shipping shifted to one day, the CEO even said the faster delivery was more environmentally friendly.
- T. Rowe Price Associates, Inc. led the latest funding round for Rivian and Ford Motor Co. and BlackRock also participated. Rivian was founded in 2009 and its main focus has been on building the R1T all-electric pickup truck and the R1S SUV.