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Rivian raises $350 million investment from Cox Automotive

Rivian R1T truck at the NY Auto Show 2019. | Image: Dacia J. Ferris/Teslarati

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Rivian recently announced an equity investment of $350 million from Cox Automotive, a subsidiary of Cox Enterprises, which hosts brands such as Autotrader, Kelley Blue Book, and RideKleen. The investment will allow Rivian and Cox to explore partnership opportunities in service operations, digital retail, and logistics. 

In a press release, Rivian CEO RJ Scaringe stated the partnership with Cox will allow the company to provide a consistent customer experience for buyers of its vehicles, including the R1T luxury pickup truck and the R1S SUV. 

“We are building a Rivian ownership experience that matches the care and consideration that go into our vehicles. As part of this, we are excited to work with Cox Automotive in delivering 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,” he said. 

Sandy Schwartz, president of Cox Automotive, also expressed his enthusiasm for Rivian and its potential in the auto industry. Schwartz added that Rivian’s stance as an environmentally-conscious EV maker complements Cox’s own conservation efforts. 

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“We are excited by Rivian’s unique approach to building an electrified future and to be part of the positive impact its products will bring to our roads and the world around us. This investment complements Cox Automotive’s own commitment to environmental change through our Cox Conserves efforts,” he said. 

Cox Automotive Mobility Group president Joe George added that the partnership opens up opportunities for Cox to learn about the electric car revolution, as well as developments in battery technology

“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. Advancements in battery technology and the electrification of fleets are two of our primary focus areas, and we believe this relationship will prove to be mutually beneficial,” he said. 

Cox Automotive’s $350 million partnership deal marks Rivian’s third major investment for 2019. Prior to Cox, Rivian had received a $700 million investment from Amazon in February, as well as $500 million from the Ford Motor Company. Despite Cox’s investment in the electric truck maker, Rivian notes that it will remain an independent company with a representative from Cox sitting on its board. 

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The announcement of Rivian’s most recent investment comes not long after prototypes of the electric truck maker’s R1T pickup were spotted in Ushuaia, Argentina. The vehicles, which were photographed by EV enthusiast Juan Guillermo Bauer, were reportedly brought to the country as vehicles for an adventure show starring Ewan McGregor and Charley Boorman. Unlike the silver R1T show model that is being showcased by the company in the United States, the R1T units spotted in Argentina appear to be prototypes, as evidenced by their rather spartan interior and a center console that features numerous buttons and knobs.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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SpaceX maintains bold advertising push for Starlink, contrasting Tesla’s minimalistic approach

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SpaceX and Tesla, the two flagship companies under Elon Musk’s leadership, share a commitment to groundbreaking technology yet pursue dramatically different paths in how they connect with customers.

Tesla has built its brand through a philosophy of minimal traditional advertising, trusting that exceptional products will generate their own momentum.

SpaceX, by contrast, has embraced high-visibility paid advertising for its Starlink satellite internet service, placing prominent spots during major live sporting events such as the Super Bowl and the recent UFC Freedom 250. This divergence highlights how each company tailors its marketing to the unique demands of its products and target markets.

Tesla’s approach stems directly from Musk’s long-held conviction that superior engineering sells itself. Musk has repeatedly explained that the company redirects resources into research and development rather than endorsements or television commercials.

Tesla’s growth has relied instead on organic channels: enthusiastic owner referrals, viral product reveals like the Cybertruck, extensive media coverage of launches and achievements, and the sheer visibility of its vehicles on roads everywhere.

Even as the company has tested more social media promotions in response to fluctuating demand, its overall strategy remains restrained and digital-focused compared to legacy automakers that pour hundreds of millions into marketing annually.

SpaceX has taken a more assertive route with Starlink to drive widespread consumer awareness. In February of this year, SpaceX aired its first-ever Super Bowl advertisement, marking the initial time any Musk-led enterprise invested in the massive event.

The thirty-second spot emphasized fast and affordable internet available nearly anywhere on the planet, blending inspiring footage of Falcon 9 and Starship landings with narration drawn from science fiction visionary Arthur C. Clarke. United Airlines complemented this with its own Super Bowl commercial showcasing Starlink-enabled high-speed Wi-Fi on flights.

But that is not all SpaceX has done to get word out about its internet service.

Just last night, Starlink branding appeared prominently on the octagon and during the broadcast of UFC Freedom 250, the high-profile event staged on the White House South Lawn. These placements represent a strategic investment in reaching massive, engaged audiences.

The rationale behind SpaceX’s advertising push lies in Starlink’s distinct position as a consumer broadband service. Unlike Tesla’s visually striking cars that act as mobile billboards for early-adopter enthusiasts, Starlink must overcome awareness gaps in rural, remote, and mobile markets where traditional internet infrastructure falls short.

Starlink now serves as SpaceX’s leading revenue generator, with ambitions tied to future growth and potential public offerings. Targeted advertising during sports broadcasts efficiently demonstrates real-world reliability for applications ranging from home connectivity to aviation and live event broadcasting.

Partnerships with airlines and mobile providers further extend its reach, while high-profile placements help convert curiosity into subscriptions amid competition and regulatory considerations.

Ultimately, these contrasting strategies reflect the different maturity levels and competitive landscapes each business navigates. Tesla benefits from built-in visibility and a passionate community that amplifies its message at little cost.

Starlink, operating in the more fragmented broadband sector, requires deliberate efforts to educate and attract mainstream users. By leveraging the spectacle of major sporting events where Tesla once declined to participate, SpaceX is accelerating Starlink toward global ubiquity.

This flexibility underscores a key lesson: even the most innovative companies must adapt their tactics to the practical realities of their markets and customer acquisition challenges.

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SpaceX (SPCX) IPO is live today at $135: Here’s exactly what you need to know

SpaceX priced its historic IPO at $135 per share today, raising a record $75 billion.

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SpaceX officially priced its initial public offering at $135 per share, offering 555,555,555 shares of Class A common stock and raising $75 billion in what is the largest IPO in stock market history. Shares are set to begin trading on the Nasdaq Global Select Market on Friday, June 12, under the ticker symbol SPCX. The previous record holder was Saudi Aramco’s 2019 offering at $29 billion, followed by Alibaba’s $22 billion offering in 2014.

At $135 per share and roughly 555.6 million shares, the implied valuation sits near $1.75 trillion, which would make SpaceX roughly the seventh largest company in the United States, just above Tesla’s current market cap. Regular investors can request shares at the IPO price through Robinhood, Fidelity, Charles Schwab, SoFi, and E*TRADE, though the deal is heavily oversubscribed and most retail allocations will be partial or unfilled. Once trading opens June 12, anyone with a brokerage account can buy SPCX on the open market.

SpaceX’s amended S-1 is sparking a major Tesla merger conversation

 

The valuation is anchored primarily by Starlink. Starlink crossed 10 million subscribers as of February 2026 and is adding 750,000 to 1.5 million new users per month, with the connectivity segment already posting a $1.19 billion profit last quarter. The offering also bundles in xAI following SpaceX’s all-stock merger earlier this year, adding Grok and the Colossus supercomputer to the investment thesis. As Teslarati reported, Starlink ended 2025 with $10 billion in revenue, a figure analysts project could reach $24 billion by end of 2026.

Wedbush analyst Dan Ives has been vocal in his support. “I think the time is right,” Ives said, adding that the offering expands the Elon Musk ecosystem rather than competing with Tesla. An average 12-month price target of $165 per share represents roughly 22% upside from the IPO price. Not everyone agrees – Motley Fool noted xAI is spending $1 billion per month playing catch-up to OpenAI and Anthropic.

Musk founded SpaceX in 2002 with a single stated purpose. “Elon founded SpaceX with a goal to change humanity, to make us a multi-planet species,” CFO Bret Johnsen said in the company’s retail roadshow video this week. Musk himself has been more direct: “We are building the systems and technologies necessary to provide global connectivity on Earth and beyond, to understand the true nature of the universe, and to extend the light of consciousness to the stars.”

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Tesla unfolded its first European “folding Supercharger”

Tesla’s folding Supercharger just arrived in Europe and it changes how fast charging expands.

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Tesla’s Folding Unit Supercharger has officially landed in Europe, with the company teasing a new installation in its effort for a broader rollout targeting major motorway rest stops across the European continent in Q3 2026. The arrival marks a notable shift in how Tesla is thinking about network expansion, moving from hardware performance alone to engineering the logistics chain itself.

While Tesla did not reveal the exact location for the new folding Supercharger in Europe, the photo shared on X heavily suggests that this maybe somewhere in Norway. Historically, whenever Tesla rolls out an entirely new infrastructure architecture in Europe, whether it was the original Supercharger stalls years ago or these brand-new modular V4 “Folding Units”, Norway is almost always the designated launch pad because of its unmatched EV adoption rate and supportive infrastructure

The Folding Unit, introduced in March 2026, is a factory pre-assembled V4 charging station built on an industrial hinge system mounted to a heavy-duty concrete base. The entire assembly arrives on site ready to unfold and connect. Tesla confirmed the units feature telescopic light poles specifically designed for easy transportation and fast on-site deployment, a detail that signals how carefully the logistics chain has been engineered alongside the hardware itself. The design allows 33% more stalls per delivery truck, cuts installation time roughly in half, and reduces overall deployment costs by more than 20% compared to traditional installations.

Tesla’s newest “Folding V4 Superchargers” are key to its most aggressive expansion yet

Tesla also noted telescopic light poles which provide benefits over traditional Supercharger installations that require fixed-height poles that are awkward to ship, slow to position on site, and often require separate crews and equipment to erect before charging hardware can even be staged. By engineering poles that compress for transit and extend on arrival, Tesla has removed one of the quieter bottlenecks in the physical deployment process. Every hour saved on a light pole installation is an hour redirected toward getting stalls energized. At scale, across dozens of new sites per quarter, those hours add up to a meaningful acceleration in how quickly a location goes from approved permit to serving its first customer.

Each Folding Unit pairs a single V4 power cabinet with eight charging posts. The V4 cabinet delivers up to 500 kW per stall for passenger vehicles and up to 1.2 MW for the Tesla Semi, supporting twice the stalls per cabinet at three times the power density of its predecessor. Longer cables make every new station immediately usable by non-Tesla vehicles, a priority as Tesla continues opening its network to Ford, GM, Rivian, Hyundai, Stellantis, and others.

As Teslarati reported when the Folding Unit was first unveiled, Tesla’s Gigafactory New York produced its final V3 Supercharger cabinet in March 2026 after more than seven years and 15,000 units, completing a full pivot to V4 production. The European arrival of the folding design is the next chapter in that transition.

Faster and cheaper deployment means Tesla can justify building in markets and corridors that were previously too expensive to serve, filling the coverage gaps that have slowed EV adoption outside major urban centers.

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