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Rivian lands $350 million investment from Cox Automotive

Discussion in 'Rivian' started by interestedinEV, Sep 10, 2019 at 1:35 PM.

  1. interestedinEV

    interestedinEV Formula Junior

    Jun 30, 2018
    292
    https://techcrunch.com/2019/09/10/rivian-lands-350-million-investment-from-cox-automotive/
    https://insideevs.com/news/370065/cox-investment-rivian-350-million/
    Rivian is trying to fill in gaps in their marketing and distribution areas and find ways to drive customers to them. Cox owns Autotrader, KBB etc as well as some analytic companies. Manheim Logistics can provide transportation help etc.

    Cox Automotive has a number of specialties, such as logistics, fleet management and service and digital retailing, which is the back-end retail support that a company selling and servicing vehicles will need. For instance, Cox Automotive launched in January a fleet services brand called Pivet that handles the task management, including everything from in-fleeting, de-fleeting, cleaning, detailing, fueling and charging, to maintenance, storage, parking and logistics.

    While Rivian has never explicitly announced plans to have a subscription service to its vehicles, this type of service would come in handy if the automaker pursued that as a business model.

    Cox Automotive has also been building out parts of its business to take advantage of the rise in electrified vehicles, including battery diagnostics and second-life battery applications.

    Cox Automotive, as well as its parent company Cox Enterprises, has the reach Rivian is looking for. Cox Enterprises owns nearly 30 automotive brands, including Autotrader, Kelley Blue Book, Pivet, RideKleen and Manheim, which transports, services and auctions vehicles across more than 150 global locations.
     

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