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Rivian receives $ 500 million investment for its electric trucks



Things are moving up at Rivian. The startup of the electric truck will receive a $ 350 million investment from Cox Automotive, the companies said on Tuesday.

The share follows a $ 700 million investment round led by Amazon and a $ 500 million deal with Ford to develop and produce an electric model that will be sold by the old carmaker.

SE: These electric pickups are coming soon

Rivian said that the agreement with Cox, which owns car marketing and delivery companies, will help it with service operations, logistics and digital retail.

Michigan-based Rivian plans to begin building an electric luxury pickup truck next year at a plant in Normal, Ill., Which will be followed by an SUV.

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