Rumors Surface That Amazon, GM in Talks to Invest $1-2 Billion in Rivian

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Rumors Surface That Amazon, GM in Talks to Invest $1-2 Billion in Rivian 2

Video & photos courtesy of Rivian
 

Amazon and General Motors are reportedly in talks about a $1-2 billion in Rivian Automotive, according to Reuters.

The companies are interested in investing in the electric truck manufacturer that is a contender with Tesla. According to the report, Amazon and General Motors would have “minority stakes” in the Plymouth, Michigan, based startup and give the automaker a “major boost.” The report also notes that a deal between the companies could be struck as soon as this month, but it is not confirmed whether the investment is solidified. Rivian and Amazon did not comment on the matter, the report states.

The report states that most big automakers have not jumped into the electric automobile market, including General Motors. GM gave this statement to the Detriot Free Press: “We admire Rivian’s contribution to a future of zero emissions and an all-electric future.”

Crain’s Chicago Business reported that Rivian was able to purchase a factory from Misubishi Motor Corp. for under $16 million in 2017. Rivain tweeted an image of its R1S prototype Feb. 1, featuring it’s ability to handle extreme-cold temperatures in minus 17 degrees. The Rivian R1T was on display for the public for the first time at the Winter X Games, according to Inside EVs.

Rumors Surface That Amazon, GM in Talks to Invest $1-2 Billion in Rivian 1Rivian touts itself as “the world’s first electric adventure vehicles” with the ability to travel 250-400 miles on one charge. Rivian plans to begin selling the R1T, an electric truck debuted in November in the Los Angeles auto show, by the fall of 2020, the report notes. The vehicle is marketed as an off-road, adventure vehicle. The luxury vehicles will begin at a starting price of $61,000-69,000. Rivian was founded in 2009 by R.J. Scaringe, who earned his Master’s of Science and PhD in Mechanical Engineering from the highly-regarded Massachusetts Institute of Technology. During his time at MIT, Scaringe worked as a member of the research team in the Sloan Automotive Laboratory. Rivian currently has about 700 employees working in three states and in the United Kingdom.

“We’re launching Rivian with two vehicles that reimagine the pickup and SUV segments,” said Rivian Founder and CEO RJ Scaringe in a press release.

“I started Rivian to deliver products that the world didn’t already have – to redefine expectations through the application of technology and innovation. Starting with a clean sheet, we have spent years developing the technology to deliver the ideal vehicle for active customers. This means having great driving dynamics on any surface on- or off-road, providing cargo solutions to easily store any type of gear, whether it’s a surf board or a fishing rod and, very importantly, being capable of driving long distances on a single charge. From the inside out, Rivian has developed its vehicles with adventurers at the core of every design and engineering decision. The R1T and R1S are the result of all this work and we are excited to finally introduce these products to the world.”

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