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https://www.cnbc.com/2020/07/10/rivian-ceo-scaringes-aggressive-plan-to-beat-tesla-and-nikola-with-the-first-all-electric-pickup-and-suv.html

Rivian raises $2.5 billion in aggressive plan to beat Tesla and Nikola with the first all

2020-07-10 00:00:00, Michael Wayland, CNBC

Content Categorization
/Autos & Vehicles/Motor Vehicles (By Type)/Hybrid & Alternative Vehicles
/Business & Industrial

Word Count:
1449

Words/Sentence:
23

Reading Time:
9.66 min

Reading Quality:
Adept

Readability:
13th to 15th

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In June, CNBC obtained correspondence regarding a funding round for Rivian, saying the company was raising at least $2 billion with a pre-money valuation at or above $8 billion.

Rivian closed on a $1.3 billion funding round in December and had raised at least $2.2 billion before that, Reuters reported at the time, citing data from Pitchbook.

Rivian has said the pickup and SUV, which debuted in late 2018, will achieve a driving range on a single charge of more than 400 miles – in-line with Tesla's top Model S Long Range Plus.

Scaringe was quietly raising $2.5 billion in fresh financing for his electric truck company Rivian.

RivianRivian has lost some top executives, including James Morgan, a veteran of Ford, as chief operating officer, and ex-chief technology officer Mike Bell, a former executive with Apple and Intel, among others.

Keywords
Alternative and sustainable energy, Ford Motor Co, Transportation, business news, Business, Nikola Corporation, T. Rowe Price Group Inc, Harley-Davidson Inc, Autos, Amazon.com Inc, Apple Inc, Lora Kolodny, Tesla Inc, Breaking News: Business, Technology, General Motors Co, BlackRock Inc

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