Rivian has raised $2.65 billion as it prepares to begin production this summer of its all-electric pickup truck.
The round, which was led by funds and accounts advised by T. Rowe Price Associates Inc., also included Fidelity Management and Research Company, Amazon’s Climate Pledge Fund, Coatue and D1 Capital Partners as well as several other existing and new investors.
Rivian is now valued at $27.6 billion, according to a person familiar with the investment round.
The capital comes at a critical time for Rivian, which is undertaking the design, development, production and delivery of two consumer vehicles — the R1T pickup …
