San Francisco (CNN Business) Rivian, the company making electric vehicles for Amazon and Ford, just got a big influx of cash.

Tesla TSLA Amazon AMZN Ford F The Michigan-based carmaker has raised $1.3 billion in a new funding round led by investment firm andshareholder T. Rowe Price, Rivian announced Monday.andalso took part in the funding round, the company said.

The latest investment is Rivian's fourth of 2019 and brings its fundraising for the year to nearly $3 billion.

"This investment demonstrates confidence in our team, products, technology and strategy -- we are extremely excited to have the support from such strong shareholders," Rivian founder and CEO RJ Scaringe said in a statement.

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