Latham-Led Electric Car Biz Closes On $2.7B Funding Round

Law360 (January 19, 2021, 8:43 PM EST) -- Represented by Latham & Watkins LLP, electric vehicle maker Rivian said Tuesday it closed on $2.65 billion in a funding round led by T. Rowe Price that arrives the same year it expects to deliver its first vehicles.

In a statement, Rivian said it has now raised $8 billion since the start of 2019, which includes a $2.5 billion financing as recently as July that was also led by affiliates of T. Rowe Price Group Inc. The car company said it plans to start delivering on orders of its electric truck, SUV and custom delivery vehicle for Amazon this year.

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