Electric vehicle startup Rivian said on Monday it closed a $1.3 billion investment round, led by fund manager T. Rowe Price but also including existing investors Inc and  Ford Motor Co.

The investment round, which also included BlackRock Inc., is the fourth this year for Rivian and positions the Plymouth, Mich.,-based company as one of the better-financed players in a crowded EV manufacturing market where Tesla Inc. is the most established player.

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Rivian Gets A $1.3 Billion Cash Infusion To Battle Tesla In The Truck Market

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