EV maker Rivian raises $2.5 billion

SAN FRANCISCO: Electric vehicle maker Rivian said it has raised another $2.5 billion from backers including Amazon’s Climate Pledge Fund as it gears up to bring a pickup truck to market.
The US startup has raised about $10.5 billion to date, and did not disclose the company’s valuation in its latest round of funding, which also included backing from Ford Motor Company and D1 Capital Partners.
The funding comes with governments around the globe, including in the United States, making the development of electric cars a priority and as the global auto sector accelerates EV production. – PNP