Cox Automotive and Rivian announced a $350 million partnership today.
- Cox Automotive is a global automotive services company with some 40,000 auto dealer clients.
- You might recognize the Cox name for its ownership of this website, Ride, as well as the Kelley Blue Book, Autotrader, and Manheim brands, among others.
- Rivian is an electric truck manufacturer, based in the Detroit area, that has been an investment darling among EV start-ups.
- Besides Cox, Rivian counts Ford and Amazon among its backers.
The Rivian R1S and R1T are expected to go on sale in 2020. (Photo: Rivian)
Electric Meets Digital
Rivian made a big splash when it launched its R1S and R1T vehicles at last year’s Los Angeles Auto Show. Both the SUV and pickup use Rivian’s EV technology, a so-called “skateboard” chassis that packs the batteries and four electric motors into one package that can then be outfitted with unique bodies.
Rivian and Cox say besides the equity investment they will explore partnership opportunities in service operations, logistics, and digital retailing.
“We are excited to work with Cox Automotive in delivering a consistent customer experience across our various touchpoints. Cox Automotive’s global footprint, service and logistics capabilities, and retail technology platform make them a great partner for us,” said RJ Scaringe, founder and CEO of Rivian, in a statement.
“With the electrification of vehicles set to play a significant role in the new mobility future, this partnership opens another channel of discovery and learning for Cox Automotive,” said Joe George, president of Cox Automotive Mobility Group.
WHY THIS MATTERS
As the auto industry continues to see long-held customs and practices disrupted, expect to see plenty more such investments and partnerships in the future. And what does this mean for our coverage of the electric truck maker? Nothing. We’ll be the same unbiased information source we’ve always been.