Rivian raises $2.5 billion in additional financing to help support its aggressive plans to beat Tesla

Rivian said it closed a $2.5 billion investment round led by funds and accounts advised by T. Rowe Price Associates.

The Tesla rival is expected to be among the first, if not the first, to bring an all-electric pickup to market by early to mid-2021.

The company raised $2.85 billion last year from Amazon, Cox Automotive, T. Rowe Price Associates, and Ford, among others.

Rivian has raised about $6 billion in funding so far and has no plans of going public at this time but maybe “open” to additional financing to help support its “aggressive growth plans.”

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