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Electric vehicle startup Rivian has raised $2.65 billion in a new round of financing. The cash injection comes at a time when the company s expenditures are increasing in the run-up to the start of production.
Not only is Rivian working to deliver its first vehicle, the R1T electric pickup, to customers by early June, but two other capital-intensive programs also are underway. Rivian is building a network of charging stations throughout the country. And CEO RJ Scaringe told
Automotive News Publisher Jason Stein in November that the company plans to have 41 brick-and-mortar service centers open before its first vehicles are delivered.