That’s how much a new electric vehicle (EV) company is raising from investors.
The Pre-IPO financing comes from Amazon (NASDAQ: AMZN) and Wall Street firms including T. Rowe Price and Fidelity Investments.
The EV company is called Rivian Automotive (private).
Rivian is developing EV pickup trucks, SUVs and delivery vehicles. The company’s first EV pickup truck will be available in June. An SUV is coming out in August.
Amazon has already agreed to purchase 100,000 of these EV delivery trucks from EV company Rivian.
The first of these delivery trucks will be delivered by December. It’s the latest sign that Amazon plans to develop its own delivery network to expedite shipping and crush the United Parcel Service (NYSE: UPS).
The EV company will deliver 100,000 delivery trucks to Amazon between 2021 – 2030. And Amazon expects it could have 10,000 trucks on the road within two years.
“We combined Rivian’s technology with our delivery logistics knowledge, and the result is what you see here — the future of last mile delivery,” says Amazon’s director of global fleet.
Rivian will raise nearly $2.7 billion in a Pre-IPO financing. The deal values the company at $27.6 billion.
Amazon previously participated in a $700 million financing of the EV company. Plus, Ford (NYSE: F) invested $500 million. And Cox Automotive put up $350 million.
The company’s total financing now stands at $8 billion.
Over $1 billion has been invested in an Illinois automotive factory. The 3.5 million square foot factory previously produced cars for Mitsubishi and Chrysler.
The EV boom is underway. And this huge Pre-IPO financing is the latest sign . . .
Typically, these types of deals are ONLY available to Wall Street banks and Silicon Valley VCs. However, I’ve discovered a little-known secret that let’s ANYONE access top Pre-IPOs.
It’s something that I call the Billionaire’s Pre-IPO Secret.
One new EV company is creating a next generation battery. It can go from ZERO to fully charged in 15-minutes. And it’s reported to be 100% safe and non-flammable.
I’m expecting that this new company could go public in February 2021. Yet before that happens the company is raising a final $475 million Pre-IPO financing.
Yours in Wealth,