Gear Review: Rivian reaps $1.2 billion | AspenTimes.com

Gear Review: Rivian reaps $1.2 billion

Stephen Regenold
The Gear Junkie

As the world anxiously awaits the “futuristic” Tesla pickup that founder Elon Musk has promised, a less-known rival has rapidly risen to vie for the title of the first all-electric truck.

Last month, Ford announced it will invest $500 million in Michigan-based Rivian. That puts the electric automaker’s total investments this year at $1.2 billion.

In February, Amazon ponied up $700 million to help Rivian reach its goal of releasing an all-electric pickup truck and SUV by the end of 2020. That’s the same timeframe many expect for the Tesla truck release.

In a press release, Ford announced it would use Rivian’s customizable “skateboard” chassis to make its own battery-electric vehicle. Combined with Amazon’s investment, Rivian appears to have ample momentum to hit its production targets.

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Stephen Regenold is the founder and writes about outdoors gear for Gear Junkie.


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