Ford Motor Company

Rivian hauls in a $1.3 billion fundraising round

Image of green Rivian R2S sport utility in a snowy environment.
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.

What I’m driving: The top contenders for 2020 North American vehicle of the year

NACTOY finalist 2020 Chevrolet Corvette Stingray. Photo: GM
NACTOY finalist 2020 Chevrolet Corvette Stingray. Photo: GM

In the next week, I and 49 other journalists must cast our final ballots for the 2020 North American car, truck and utility vehicle of the year.

Why it matters: I am trying to squeeze in extra seat time in the nine finalists that were announced in November, and my driveway has been extra crowded lately.