American manufacturer of electric cars Rivian attracted $ 1.3 billion, says CNN. The money helped to attract the investment company T. Rowe Price, which owns a stake in Tesla. Rivian previously called “nightmare” Elon musk.
To attract funding Rivian chose procedure funding round, in which the share of the company sells a wide range of investors without going public. The organizer was T. Rowe Price, a long time formerly one of the largest shareholders of Tesla.
In December 2018 it has reduced its stake in the company Ilona Mask from 10.1 to 5.2 percent. At the beginning of this year, the funds T. Rowe Price continued to sell shares of Tesla getting rid of 92 per cent of the remaining shares.
The current round of attracting investments was the fourth in 2019. Just for the year Rivian managed to attract three billion dollars, including $ 500 million from Ford. Founder and CEO at R. J. Scaringe called it evidence of “the confidence of investors in our company, products, and technologies.”
Rivian produces two models of electric cars: pickup R1T and R1S SUV SUV. The company is considered the main rival of Tesla and its recently presented electropica CyberTruck. The press called it “a nightmare” Elon musk.
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