Whether Rivian needs a couple billion more to make it, I don't know, so I'll take McElroy's word for it. However, what doesn't add up for me is when he says "they (Rivian) have raised a half-billion dollars." I believe Rivian had already raised that money last year (with significant investments from Sumitomo Corporation and Abdul Latif Jameel) *before* Rivian's latest investment round back earlier this year which either included or coincided with the well known Amazon investment of $700m. And then add to that the $500m Ford ponied up a couple of months ago. That's a *minimum* of $1.7 billion by my count. So it's not clear to me if McElroy misspoke or was misquoted, or is not as familiar with Rivian's operation as he leads on, or I'm just misreading the article.
None the less, I do agree Rivian will certainly need to continue to raise additional capital if they want to be successful and be around for a while. Of course the real question is - how much more money will they need?
None the less, I do agree Rivian will certainly need to continue to raise additional capital if they want to be successful and be around for a while. Of course the real question is - how much more money will they need?