Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Rivian's distinctive R2S electric sport utility. (Photo courtesy of Rivian)

Electric truck startup Rivian capped off a remarkable fundraising year by announcing its largest round yet on Monday — a $1.3 billion investment led by T. Rowe Price, Amazon, Ford and BlackRock.

Why it matters: Rivian's cool-looking pickup truck and SUV prototypes grab attention as potential rivals to Tesla, but it's the automaker's decision to share its underlying technology — a versatile electric "skateboard" chassis — that has investors excited about the company's potential.

  • Amazon has ordered 100,000 electric delivery vans based on Rivian's platform and Ford is reportedly planning a future Lincoln SUV based on it.
  • Rivian's business-to-business play sets it apart from Tesla and the sea of other electric vehicle companies trying to get off the ground.
  • In an Axios interview last year, Rivian founder and CEO RJ Scaringe said the "skateboard" could be modified to suit many types of vehicles — as well as things like jet skis or snowmobiles.
  • The platform, which includes the electric motor, batteries and controls, will also include automated driving technology in the future, he said.

The big picture: Rivian has built a ton of momentum since bursting on the scene in 2018. The latest investment is its fourth this year.

  • In February, it raised $700 million, led by Amazon, which announced its electric van order in September.
  • In April, Ford invested $500 million and said the companies would collaborate on a vehicle project utilizing Rivian’s "skateboard" platform. Ford is also expected to lend its manufacturing expertise as Rivian begins production at a former Mitsubishi factory in Normal, Ill., in 2020.
  • In September, Cox Automotive, a technology tech and data company, invested $350 million in Rivian. It wants to collaborate on new approaches to logistics, service and digital retailing.

What they're saying: "This investment demonstrates confidence in our team, products, technology and strategy — we are extremely excited to have the support from such strong shareholders," Scaringe said in a statement Monday.

What to watch: Rivian's models, the R1T pickup and R1S utility, will deliver up to 410 miles of range and cost around $70,000. Production is slated to begin in 2020.

Go deeper: Rivian has a two-part strategy for success

Go deeper

5 hours ago - Health

Axios AM Deep Dive: Covid forever

Illustration: Aïda Amer/Axios

It was 563 days ago that the WHO declared Covid-19 a pandemic. This Axios AM Deep Dive, led by healthcare reporter Caitlin Owens, looks at our Covid future.

Federal judge blocks vaccine mandate for NYC teachers

Students are dismissed from the first day of school at PS 133 in Brooklyn on Sept. 13. Photo: Michael Nagle/Xinhua via Getty Images

A federal appeals court judge on Friday temporarily blocked New York City schools from enforcing a vaccine mandate for school employees, days before it was set to take effect, AP reports.

Driving the news: The vaccine mandate was set to begin on Monday, prompting concerns over staffing shortages in schools across the nation's largest school system.

CCP releases two jailed Canadians after Huawei CFO deal with DOJ

Photo: Sheldon Cooper/SOPA Images/LightRocket via Getty Images

Two Canadians imprisoned by the Chinese government for over 1,000 days have been released and are expected to arrive in Canada on Saturday, Prime Minister Justin Trudeau said Friday.

Why it matters: Their release comes hours after Huawei Technologies CFO Meng Wanzhou reached a deal with the U.S. Department of Justice that resolves the criminal charges against her and could pave the way for her to return to China.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!