The electric truck and SUV developer has received $350m from Cox Automotive in return for a 10% stake in the Ford, Amazon and Sumitomo-backed company.

Cox Automotive, the transport-focused division of media, automotive and telecommunications group Cox Enterprises, invested $350m in US-based electric off-road vehicle developer Rivian on Tuesday. The cash was provided at a $3.5bn valuation, a person familiar with the matter told the Wall Street Journal, and it increased the company‚Äôs total funding to $2.35bn. Rivian is working…

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