Amazon has led the electric truck developer's latest round, which featured existing backers likely to have included corporates Abdul Latif Jameel and Sumitomo.
US-based sustainable truck developer Rivian Automotive secured $700m on Friday in a funding round led by e-commerce and cloud computing group Amazon and backed by undisclosed existing shareholders.
Rivian is working on an all-electric pick-up truck and sports utility vehicle, both of which are expected to be commercially released in the US in late 2020, preceding a European launch the following year. It will manufacture the vehicles at a facility in the state of Illinois.
The latest round comes after…
