- Ford Motor Co said on Wednesday it will invest $500 million in U.S. electric vehicle startup Rivian Automotive LLC, joining Amazon.com Inc in backing the potential rival to Silicon Valley’s Tesla Inc.
Michigan-based Rivian, founded in 2009, has raised more than $1.5 billion from investors. A company spokesman declined to provide a valuation for the company, but investor website Dealroom.com estimates Rivian’s value at $5 billion to $7 billion. “It does not interfere” with Volkswagen, Hackett said during a conference call on Wednesday. “This is a specific platform that helps us in areas we weren’t considering with others.”
tesla
SpacedockHQ They stole your logo.
Why is the stock not going up ? I bought some
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