In a press release, Rivian just announced the investment of $350 million from global automative services company Cox Automotive. The two companies will also explore partnerships in operations and sales.
“We are building a Rivian ownership experience that matches the care and consideration that go into our vehicles. As part of this, we are excited to work with Cox Automotive in delivering consistent customer experience across our various touchpoints. Cox Automotive’s global footprint, service and logistics capabilities, and retail technology platform make them a great partner for us,” He stated.
Cox CEO, Sandy Schwartz, also had a statement in the same document. Not only showing great expectations on the investment but he also praised Rivian’s environmental efforts.
“We are excited by Rivian’s unique approach to building an electrified future and to be part of the positive impact its products will bring to our roads and the world around us. This investment complements Cox Automotive’s own commitment to environmental change through our Cox Conserves efforts,”
Cox investment in Rivian comes shortly after some prototypes where seen doing tests in South America. This $350 million deal is the 3rd public investment in the company this year. In February, Amazon gave a $700 million check, and soon after was Fords turn to dig in their pockets to cough up $500 million.