Forget Ford and GM -- Tesla Has a Startup in the Electric Truck Market to Worry About

Forget General Motors and Ford -- electric-car maker Tesla (NASDAQ: TSLA) has another competitor to contend with: Rivian, the electric truck start-up.

The Detroit-based company is vying with Tesla in the race to bring electric trucks and SUVs to the market.

It has big backers that should worry Tesla. Just this month it raised $350 million in venture funding from Cox Automotive. As part of the deal, both companies will explore ways to team up, including in logistics and digital retailing. 

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Source Fool.com