Wall Street Betting on Electric Vehicles
Wall Street's $1.3 Billion Bet on EV Startup Rivian Source: Rivian R1S SUV Unique EV "Skateboard Technology" for Cars, Trucks, SUVs The 2020's are going to be hot growth years for electric vehicles. Detroit-based EV startup Rivian just closed on a $1.3 billion investment round led by T. Rowe Price. The Wall Street investors are joined by existing stakeholders Ford and Amazon. Rivian's Differentiator: Unique Technology Rivian's technological approach to electric vehicles is unique. It has a patented "skateboard" design. The skateboard is the chassis that bundles the electric motors, batteries and controls. Moreover, the skateboard design can accommodate a variety of models and body styles. That's just one of the unique aspects of Rivian that attracted Ford to invest $500 million in the startup company. Big 2020 Development Plan Rivan is currently valued at $5 to $7 billion. It previously raised $2.2 billi...