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The Station: Aurora gets closer to a SPAC deal, Spin’s new strategy and Waymo One app numbers

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The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox.

Hello and welcome back to The Station, a weekly newsletter dedicated to all the ways people and packages move (today and in the future) from Point A to Point B.

We are days away from TC Sessions: Mobility 2021, a one-day virtual event scheduled for June 9 that is bringing together some of the best and brightest minds in transportation. I’ll keep it short and sweet.

If you want to check things out but are short on cash, register and type in “station” for a free pass to the expo and breakout sessions. If you want access to the main stage — where folks like Mate Rimac, Chris Urmson and GM’s Pam Fletcher will be interviewed — then type in “Station50” to buy a full access pass for a 50% discount. Tickets can be accessed here.

Buying a ticket will also give you a months-free subscription to Extra Crunch and access to all the videos of the conference. We have a star-studded group of folks coming from Aurora, AutoX, Gatik, GM, Hyundai, Joby Aviation, Motional, Nuro, Rimac Automobili, Scale AI, Starship Technologies, Toyota Research Institute, WeRide, and Zoox. (to name a handful).

Email me at [email protected] to share thoughts, criticisms, offer up opinions or tips. You can also send a direct message to me at Twitter — @kirstenkorosec.

Micromobbin’

The big micromobility news of the week revolves around Spin, and it’s not about whether or not Ford is spinning out the company; they kept a pretty tight lip on that, but clearly big changes are happening. Co-founder Derrick Ko is stepping down as CEO and moving into an advisory role, along with his other two co-founders Zaizhuang Cheng and Euwyn Poon. In Ko’s place is Ben Bear, who previously served as CBO of Spin.

Along with this news came a flurry of other announcements, but it makes sense to start with Spin’s latest public strategy for winning the e-scooter business. Spin is actively seeking out limited vendor permits with cities. In other words, the company doesn’t want to see its cities messing around with other operators. Spin is seeking exclusive partnerships and is prepared to better itself to get them. It’s positioning itself as the most desirable for cities as it shares even more news…

If Spin wants to have a kind of deal that Lyft-owned CitiBike has with NYC, then it needs to bring more to the table. It’s starting with e-bikes. 5,000 of them, to be specific, in the coming months, starting with Providence, RI in June and spreading outward into a few other mid-tier cities over the summer.

Spin is also flexing its tech that will help make its scooters safe and reliable — just what a city wants in a long-term commitment. This week, it brought its Drover AI-equipped scooters to Milwaukee (with plans to launch in Miami, Seattle and Santa Monica, as well) that are equipped to detect sidewalk and bike lane riding and validate parking. Seattle, Santa Monica and Boise, Idaho will soon be graced by Spin’s new S-200, a three-wheeled adaptive scooter built with Tortoise’s repositioning software that allows a remote operator to move scooters out of gutters or into more dense urban areas.

Tier gets some more money

Berlin-based Tier Mobility, which recently won a London permit, has raised $60 million so it can expand its fleet of vehicles and battery charging networks. Technically, it’s a loan. The asset-backed financing comes from Goldman Sachs.

Let’s talk about bikes

Lyft has got a new e-bike piloting this month, starting in San Francisco, then Chicago and New York. It’ll be dropping the sleek, white bikes with soft purple LEDs at random around the city for people to test out. TechCrunch’s Brian Heater gave it a spin, and his general consensus was, Yeah, it’s a good bike. Can’t complain.

While Lyft may have anti-theft protection on its e-bikes, the rest of us are not so lucky. According to market research company NPD Group, we saw a 63% YOY growth for bike sales in June. Bike Index, a national bike registry group, tells us that the number of bikes stolen has seen similar increases. The number of bikes reported stolen to the service was a little over 10,000 between April and September, compared to nearly 6,000 during the same period in the previous year. That’s an uptick of nearly 68%. So, when are apartment complexes going to be forced to build bike storage rather than car parks?

Best cities for biking

If you are going to risk theft and bike around, you’ll want to do it in one of the cities PeopleForBikes just announced are the best for biking.

“Topping this year’s ratings in the United States are Brooklyn, NY; Berkeley, CA and Provincetown, MA (each ranking first in the large, medium and small U.S. city categories, respectively). Top international performers include Canberra and Alice Springs in Australia; Utrecht and Groningen in the Netherlands and Gatineau, Longueuil and Montreal in Canada, all located in the province of Quebec.”

Biking is not all about fun and commuting. For some of us, it’s work. URB-E, the compact container delivery network that wants to replace trucks with small electric bikes, has announced PackItFresh as its final-mile refrigeration provider. PackItFresh’s totes can keep food at safe temperatures for up to 24 hours, yet another reason supermarkets need to be nixing the delivery trucks in favor of these more sustainable alternatives.

 — Rebecca Bellan

Deal of the week

money the station

I hesitate to put this one under deal of the week, because, well, the deal ain’t done. But it is interesting, and this is my show, so here we are. I’m talking about Aurora, the autonomous vehicle company, and a potential merger with a special purpose acquisition company.

Here’s the tl;dr for those who didn’t catch my Friday story. Several sources within the financial sector told me that Aurora is close to finalizing a deal to merge with Reinvent Technology Partners Y, the newest special purpose acquisition company launched by LinkedIn co-founder and investor Reid Hoffman, Zynga founder Mark Pincus and managing partner Michael Thompson. It appears the valuation is going to be somewhere in the $12 billion neighborhood. The deal is expected to be announced as early as next week. I should add that both Aurora and Reinivent declined to comment.

The Hoffman, Pincus, Thompson trio, who are bullish on a concept that they call “venture capital at scale,” have formed three SPACs, or blank-check companies. Two of those SPACs have announced mergers with private companies. Reinvent Technology Partners announced a deal in February to merge with the electric vertical take off and landing company Joby Aviation, which will be listed on the New York Stock Exchange later this year. Reinvent Technology Partners Z merged with home insurance startup Hippo.

Is it possible that the deal could fall apart? Sure. But my sources tell me that it has progressed far enough that it would take a significant issue to derail the agreement. One more note: there is the tricky issue of Hoffman and Reinvent’s existing relationship with Aurora. Hoffman is a board member of Aurora and Reinvent is an investor. While Hoffman and Reinvent showing up on two sides of a SPAC deal would be unusual, it is not unprecedented. Connie Loizos’s accompanying article digs into the increasing cases of conflicts of interest popping up in SPAC deals.

Other deals that got my attention …

Getir, the Istanbul-based grocery delivery app, raised $550m in new funding. This latest injection of capital, which tripled its valuation to $7.5 billion, came just three months after its last financing, the Financial Times reported. The company, which just started to expand outside of Turkey in early 2021, is now planning a U.S. launch this year.

Faction Technology, the Silicon Valley-based startup building three-wheeled electric vehicles for autonomous delivery or human driven jaunts around town, raised $4.3 million in seed funding led by Trucks VC and Fifty Years.

Flink, a Berlin-based on-demand “instant” grocery delivery service built around self-operated dark stores and a smaller assortment (2,400 items) that it says it will deliver in 10 minutes or less, has raised $240 million to expand its business into more cities, and more countries.

FlixMobility, the parent company of the FlixBus coach network and the FlixTrain rail service, has closed more than $650 million in a Series G round of funding that values the Munich-based company at over $3 billion. Jochen Engert, who co-founded and co-leads the company with André Schwämmlein, described the round in a press call that TechCrunch participated in as a “balanced” mix of equity and debt, and said that the plan will be to use the funds to both expand its network in the U.S. market as well as across Europe.

Locus, a startup that uses AI to help businesses map out their logistics, raised $50 million in a new financing round as it looks to expand its presence. The new round, a Series C, was led by Singapore’s sovereign wealth fund GIC. Qualcomm Ventures and existing investors Tiger Global Management and Falcon Edge also participated in the round, which brings the startup’s to-date raise to $79 million. The new round valued the startup, which was founded in India, at about $300 million, said a person familiar with the matter.

Realtime Robotics announced a $31.4 million round. The funding is part of the $11.7 million Series A the company announced all the way back in late 2019. Investors include HAHN Automation, SAIC Capital Management, Soundproof Ventures , Heroic Ventures, SPARX Asset Management, Omron Ventures, Toyota AI Ventures, Scrum Ventures and Duke Angels.

Roadster, the Palo Alto-based digital platform that gives dealers tools to sell new and used vehicles online has been acquired for $360 million by retail automotive technology company CDK Global Inc. As part of the all-cash deal, Roadster is now a wholly owned subsidiary.

Sennder, a digital freight forwarder that focuses on moving cargo around Europe (and specifically focusing on trucks and “full truck load”, FTL, freight forwarding), has raised $80 million in funding, at a valuation the company confirms is now over $1 billion.

Toyota AI Ventures, Toyota’s standalone venture capital fund, dropped the “AI” and has been reborn as, simply, Toyota Ventures. The firm is commemorating its new identity with a new $300 million fund that will focus on emerging technologies and carbon neutrality. The capital is split into two early-stage funds: the Toyota Ventures Frontier Fund and the Toyota Ventures Climate Fund. The introduction of these two new funds brings Toyota Ventures’ total assets under management to over $500 million

Trellis Technologies, the insurance technology platform, raised $10 million in Series A funding led by QED Investors with participation from existing investors NYCA Partners and General Catalyst.

VTB, Russia’s second-largest lender, has bought a $75 million minority stake in car-sharing provider Delimobil, Reuters reported.

Waymo: by the numbers

the station autonomous vehicles1

Waymo has been on my mind lately — and not because of the executive departures that I wrote about last month. No, I’ve been thinking about Waymo and how, or if, it’s been scaling up its Waymo One driverless ride-hailing service, which operates in several Phoenix suburbs. The latest example is that Waymo One can now be accessed and booked through Google Maps.

But what about ridership? The folks at Sensor Tower, the mobile app market intelligence firm, recently shared some numbers that give the tiniest of glimpses into who is at least interested in trying the service.

First, a bit of history. Waymo started an early rider program in April 2017, which allowed vetted members of the public, all of whom signed NDAs, to hail an autonomous Chrysler Pacifica hybrid minivan. All of these Waymo-branded vans had human safety operators behind the wheel.

In December 2018, the company launched Waymo One, the self-driving car service and accompanying app. Waymo-trained test drivers were still behind the wheel when the ride-hailing service began. Early rider program members were the first to be invited to the service. As these folks were shifted over to the Waymo One service, the NDA was lifted.

The first meaningful signs that Waymo was ready to put people in vehicles without human safety operators popped up in fall 2019. TechCrunch contributor Ed Niedermeyer was among the first (media) to hail a driverless ride. These driverless rides were limited and free. And importantly, still fell under the early rider program, which had that extra NDA protection. Waymo slowly scaled until about 5 to 10% of its total rides in 2020 were fully driverless for its exclusive group of early riders under NDA. Then COVID-19 hit.

In October 2020, the company announced that members of Waymo One — remember this is the sans NDA service — would be able to take family and friends along on their fully driverless rides in the Phoenix area. Existing Waymo One members were given first access to the driverless rides. The company started to welcome more people directly into the service through its app, which is available on Google Play and the App Store.

Waymo said that 100% of its rides would be fully driverless, which it has maintained. Today, anyone can download the app and hail a driverless ride.

OK, back to the numbers. Sensor Tower shared monthly estimates for Waymo’s installs from the U.S. App Store and Google Play. The company said that most of the installs are on iOS, as it looks like the Waymo app only became available on Android in April 2021. This isn’t a ridership number. It does show how interest has grown, and picked up since February 2021.

Waymo one app data

Image Credits: Sensor Tower

Policy corner

the-station-delivery

Hi folks, welcome back to Policy Corner.

Another infrastructure bill was proposed in Washington this week. The House Committee on Transportation and Infrastructure introduced a new bill that would invest $547 billion over the next five years on surface transport. While much of those funds would go toward improving America’s roads, bridges, and passenger rail, the INVEST in America Act would dedicate around $4 billion in electric vehicle charging infrastructure and around $4 billion to invest in zero-emission transit vehicles.


And that’s in addition to major infrastructure bills already proposed by President Joe Biden and House Democrats. It’s likely that this bill, should it pass, would be significantly scaled back — just as Congressional Republicans are attempting to do with Biden’s infrastructure plan. You can read more about the bill here.

President Biden has set his sights on battery manufacturing as a way to recover and reuse critical minerals in the EV supply chain. This is after it was reported that he walked back earlier signals that he might support domestic mining for these minerals, like lithium. Instead, it looks like his plan is to push for continued importing of the metals from foreign countries and then to recycle and reuse them at the end of a battery’s life.

This news is a blow to America’s mining industry but sure to be a boost for metal recyclers, like Redwood Materials in Nevada and Canadian company Li-Cycle, which is expanding its operations in the States.

Some of the biggest pushback against mining has come from environmental and conservation groups. A good example is the situation currently unfolding out in Nevada, where a proposed lithium mine may be halted due to the presence of a rare wildflower. Conservation groups want to get protected status for the flower. If they succeed? No more mine.

The final piece of news this week is a recent survey from Pew Research Center which found that 51% of Americans oppose phasing out the production of gas-powered cars and trucks. The report also found that those reported hearing “a lot” about EVs were more likely to seriously consider one for their next vehicle purchase. Also, while Americans are roughly in agreement that EVs are better for the environment, they’re equally in agreement that they’re more costly.

The upshot is that more and more Americans are coming around to the idea of EVs and the question of their benefits (on the environment, for example) is pretty well understood. But policymakers and OEMs clearly still have a ways to go in convincing a huge swathe of Americans to get on board.

— Aria Alamalhodaei

A few more notes

I won’t be providing the looooonnnnggggg roundup of news this week, but here are a few little bits including some hires and other tidbits.

7-Eleven said it plans to install 500 direct-current fast charging ports at 250 locations across North America by the end of 2022. These charging ports will be owned and operated by 7-Eleven, as opposed to fuel at its filling stations, which must be purchased from suppliers.

Baraja, the lidar startup, appointed former Magna and DaimlerChrysler veterans to its executive team, including Paul Eichenberg as chief strategy officer and Jim Kane as vp of automotive engineering.

Brian Heater, hardware editor here at TechCrunch, covered a recent gathering of ride-hailing drivers in Long Island City, Queens. The group protested outside of Uber’s offices ahead of a proposed state bill. The drivers support the proposed bill that would make it easy for gig economy workers in the state to unionize.

Cruise, the autonomous vehicle subsidiary of GM that also has backing from SoftBank Vision Fund, Microsoft and Honda, has secured a permit that will allow the company to shuttle passengers in its test vehicles without a human safety operator behind the wheel.

The permit, issued by the California Public Utilities Commission as part of its driverless pilot program, is one of several regulatory requirements autonomous vehicle companies must meet before they can deploy commercially. This permit is important — and Cruise is the first to land this particular one — but it does not allow the company to charge passengers for any rides in test AVs.

DeepMap has developed a crowdsourced mapping service called RoadMemory that lets automakers turn data collected from their own fleets of passenger vehicles and trucks into maps. The company says the tool is designed to expand geographic coverage more quickly and support hands-off autonomous driving features everywhere.

Joby Aviation is partnering with REEF Technology, one of the country’s largest parking garage operators, and a real estate acquisition company Neighborhood Property Group to build out its network of vertiports, with an initial focus on Los Angeles, Miami, New York and the San Francisco Bay Area.

Populus, the platform that helps cities manage shared mobility services, streets and curbs, launched a new digital car-sharing parking feature in Oakland. The gist is that this feature helps cities collect data on car-sharing and deploy curbside paying payments. The company launched this particular product in 2018 and has been expanding to different cities.

Starship Technologies, the autonomous sidewalk delivery startup, has hired a new CEO. The company tapped Alastair Westgarth, the former CEO of Alphabet’s Loon, to lead the company as it looks to expand its robotics delivery service. Loon, Alphabet’s experiment to deliver broadband via high-altitude balloons, was shut down for good at the beginning of this year. Prior to working at Loon, Westgarth headed the wireless antennae company Quintel Solutions, was a vice president at telecommunications company Nortel and director of engineering at Bell Mobility.

Yuri Suzuki, a partner at design consultancy firm Pentagram, recently conducted a research project into the crucial role electric car sound has on a user’s safety, enjoyability, communication and brand recognition, out of which he developed a range of car sounds.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://techcrunch.com/2021/06/07/the-station-aurora-gets-closer-to-a-spac-deal-spins-new-strategy-and-waymo-one-app-numbers/

Automotive

GM Sues Ford Over BlueCruise Name For Hands-Free Driving Tech

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General Motors and Cruise, the company’s self-driving vehicle unit, have sued Ford over the use of the BlueCruise name for its self-driving technology, Reuters reported. The lawsuit was filed in federal court in California.

According to the report, GM said that the BlueCruise name is an infringement of the trademark being used by the automaker – both for its Super Cruise tech and its Cruise company.

The automaker further added that it “had hoped to resolve the trademark infringement matter with Ford amicably.” The two companies failed to resolve the dispute, which forced GM to hit back with a lawsuit to defend its trademark.

 

Ford through Mike Levine has issued a statement about the issue (embedded above). The company said that GM’s claim is “meritless and frivolous,” citing the use of cruise control for decades and the word “cruise” itself as its common shorthand. Levine also cited other companies using “cruise” for driver-assist technologies, including Hyundai’s Smart Cruise Control and BMW’s Active Cruise Control.

In the Reuters’ report, GM said that Ford knew what it was doing when it used the BlueCruise name. The company accuses that Ford’s decision to rebrand its tech using GM’s trademark will inevitably cause confusion.

To recall, Ford announced back in April that its autonomous driving system will be officially called BlueCruise. It’s an SAE Level 2 autonomous system that uses a combination of advanced camera and radar-sensing technologies. Ford likens it with Tesla’s Autopilot “but with the advantage of offering a true hands-free driving experience while in Hands-Free Mode.”

Ford’s BlueCruise will be available in the Mustang Mach-E and F-150 later this year through over-the-air updates. It will cost $600, which includes three years of service.

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Source: https://www.motor1.com/news/522298/gm-sues-ford-bluecruise-name/?utm_source=RSS&utm_medium=referral&utm_campaign=RSS-category-technology

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Automotive

Automakers have battery anxiety, so they’re taking control of the supply

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Battery joint ventures have become the hot must-have deal for automakers that have set ambitious targets to deliver millions of electric vehicles in the next few years.

It’s no longer just about securing a supply of cells. The string of partnerships and joint ventures show that automakers are taking a more active role in the development and even production of battery cells.

Automakers are taking a more active role in the development and even production of battery cells.

And the deals don’t appear to be slowing down. Just this week, Mercedes-Benz announced its $47 billion plan to become an electric-only automaker by 2030. Securing its battery supply chain by expanding existing partnerships or locking in new ones to jointly develop and produce battery cells and modules is a critical piece of its plan.

Mercedes, like other automakers, is also focused on developing and deploying advanced battery technology. In addition to setting up eight new battery plants to supply its future EVs, the German automaker said it was partnering with Sila Nano, the Silicon Valley battery chemistry startup that it has previously invested in, to increase energy density, which should in turn improve range and allow for shorter charging times.

“This follows a trend that we’ve seen of automakers realizing how critical the battery is and taking more control of the production of the cells in order to ensure their own supply,” Sila Nano CEO Gene Berdichevsky said in a recent interview. “Like if you’re VW, and you say, ‘We’re going to go 50% electric by whatever year,’ but then the batteries don’t show up, you’re bankrupt, you’re dead. Their scale is so big that even if their cell partners have promised them to deliver, automakers are scared that they won’t.”

Tesla, BMW and Volkswagen were early adopters of the battery joint-venture strategy. In 2014,Tesla and Panasonic signed an agreement to build a large battery manufacturing plant, or a gigafactory as everyone is now calling it, in the U.S. and have worked together since. BMW began working with Solid Power in 2017 to create solid-state batteries for high-performance EVs that could potentially lower costs by requiring less safety features than lithium-ion batteries.

In addition to its partnership with Northvolt, VW is also in talks with suppliers to secure more direct access to supplies like semiconductors and lithium so it can keep its existing plants running at full speed.

Now the rest of the industry is moving to work with battery companies, to share knowledge and resources and essentially become the manufacturer.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://techcrunch.com/2021/07/23/automakers-have-battery-anxiety-so-theyre-taking-control-of-the-supply/

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Automotive

Peer-to-peer car rental startup Getaround fined nearly $1M by DC’s attorney general

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Getaround was fined nearly $1 million by the Washington, D.C. Office of the attorney general for operating without a license and other violations, part of a settlement of what the peer-to-peer car rental startup calls “politically motivated allegations.”

The AG’s office started investigating the company early last year, after it received reports of vehicle thefts of cars listed on the Getaround platform. The settlement, released Friday, requires the company to pay the city $950,000, in addition to implementing other changes, including paying restitution to customers whose vehicles were stolen or damaged while listed for rent on Getaround’s platform.

Getaround, the winner of TechCrunch’s Startup Battlefield at Disrupt NYC in 2011, lets individual car owners rent their vehicles by the hour or day via its website and app. The site, much like competitor Turo or home rental analog Airbnb, mediates this exchange (and takes a cut off the top). The company’s attracted a lot of interest from investors, most recently raising a $140 million Series E that brought its total venture funding to $600 million.

The settlement is what’s known as an “assurance of voluntary compliance,” and it’s not an admission of guilt. The settlement document makes clear that Getaround denies it violated any consumer protection or tax laws.

“Gig economy companies must abide by the same rules as their brick-and-mortar counterparts,” Attorney General Karl Racine said in a statement. “They must provide clear and accurate information to consumers, especially about the safety of their services, and they must pay their fair share of taxes like everyone else does.”

The AG’s office claims that Getaround operated without a license in the district, misrepresented its service and made “untrue or misleading representations” about the safety of its car rental services. As part of the settlement, the company must create a written policy for user complaints regarding vehicle damage or theft, including a way for users to report any issues. It also must clearly disclose limitations of its safety features, such as its “Enhanced Security” software feature, which Getaround says on its website can immobilize your car when it’s not being used. Getaround must also more clearly state the terms and conditions for insurance coverage.

The AG’s office also claimed that Getaround misled consumers by creating fake owner profiles for vehicles that it owned and operated. The company must now disclose its fleet cars clearly in listings.

A Getaround spokesperson told TechCrunch that the company “categorically disagrees” with the AG’s allegations.

“With regard to safety and security, as the attorney general acknowledges, as soon as Getaround was notified of security issues affecting certain cars in the District, the company took immediate corrective action,” the spokesperson said. “As is its practice, Getaround will continue to compensate car owners who have filed valid claims for loss or damage. Finally, Getaround never disputed liability for the taxes it is paying pursuant to this settlement. Getaround will continue to pay applicable taxes to the District and in every jurisdiction in which it operates.”

The company spokesperson went on to say that “while the attorney general is focused on scoring political points, Getaround remains focused on connecting safe, convenient and affordable cars with District residents who need them to live and work.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://techcrunch.com/2021/07/23/peer-to-peer-car-rental-startup-getaround-fined-nearly-1m-by-dcs-attorney-general/

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Rivian raises another $2.5B, pushing its EV war chest up to $10.5B

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Rivian announced Friday that it has closed a $2.5 billion private funding round led by Amazon’s Climate Pledge Fund, D1 Capital Partners, Ford Motor and funds and accounts advised by T. Rowe Price Associates Inc.

Third Point, Fidelity Management and Research Company, Dragoneer Investment Group and Coatue also participated in the round, according to Rivian.

“As we near the start of vehicle production, it’s vital that we keep looking forward and pushing through to Rivian’s next phase of growth,” Rivian CEO RJ Scaringe said in a statement. “This infusion of funds from trusted partners allows Rivian to scale new vehicle programs, expand our domestic facility footprint, and fuel international product rollout.”

D1 Capital Partners founder Dan Sundheim said the firm is excited to increase its “investment in Rivian as it reaches an inflection point in its commercialization and delivers what we believe will be exceptional products for customers.”

Rivian has raised roughly $10.5 billion to date. The company did not share a post-money valuation.

The electric automaker, which now employs 7,000 and is preparing to deliver its R1T pickup truck in September, last raised funds in January. That round brought in $2.65 billion from existing investors T. Rowe Price Associates Inc., Fidelity Management and Research Company, Amazon’s Climate Pledge Fund, Coatue and D1 Capital Partners. New investors also participated in that round, which pushed Rivian’s valuation to $27.6 billion, a source familiar with the investment round told TechCrunch at the time.

The news comes just a day after Rivian confirmed it plans to open a second U.S. factory. It also follows Rivian’s decision to delay deliveries of its R1T truck and R1S SUV from this summer to September due to delays in production caused by “cascading impacts of the pandemic,” particularly the ongoing global shortage of semiconductor chips.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://techcrunch.com/2021/07/23/rivian-raises-another-2-5b-pushing-its-ev-war-chest-up-to-10-5b/

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