*INNOVATION: Rivian, With Offices In Irvine, Gets $350M From Parent Of Kelly Blue Book
This article was first published by SocalTech, with whom OCSN has a partnership:
Electric truck maker Rivian, which has a development office in Irvine, has received $350 million in an equity investment from the parent company of Irvine-based Kelly Blue Book, Rivian announced on Tuesday.
According to Rivian–which has its headquarters in Plymouth, Michigan–the $350M investment came from automotive services company Cox Automotive.
In addition to Kelly Blue Book, Cox owns Autotrader, Dealertrack, Clutch Technologies, and a number of other automotive related businesses.
According to Rivian, the companies will explore partnership opportunities in service operations, logistics, and digital retailing