U.S.-based Rivian Automotive, electric truck startup, has bagged $700 million in a funding round.
The round was conducted by U.S. e-commerce major Amazon with participation from existing investors.
With the net funds, Rivian will launch its R1T pickup truck and R1S sports utility in the U.S. in 2020, and begin introducing them overseas in 2021.
Rivian Automotive has $12 million in revenue annually.