General Motors and Ford are racing to produce an electric pick-up truck to rival Tesla’s Cybertruck, but a little known start-up may steal their thunder.
More than 250,000 people are reported to have put down a $150 holding deposit on the Cybertruck, which Tesla says will enter production in 2021.
But while Ford and General Motors are scrambling to beat Tesla to the punch with an electric truck, a Michigan start-up is fast gaining ground on all three.Source:Supplied The company has also signed deals to produce 100,000 delivery vans for Amazon and provide EV technology under licence to Ford. Both Ford and Amazon are key investors in the start-up.
Leading data and analytics company, Global Data, says the latest capital raising will allow Rivian to deliver on its promise of producing its first vehicles late next year.Source:Supplied“The latest investment round and partnerships position the Plymouth-based company as one of the better-financed players in the global EV market,” he says.
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