Business Standard

Friday, December 20, 2024 | 12:17 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Amazon leads $700-mn equity investment in Tesla's rival Rivian Automotive

Rivian Automotive LLC has now raised about $1.15 billion

Amazon
Premium

Photo: Reuters

Bloomberg
Amazon.com led a $700 million equity investment in Rivian Automotive LLC, the electric pickup and SUV maker that debuted its first vehicle concepts late last year.

The backing from Amazon will bolster Michigan-based Rivian’s plans to bring an electric truck to market late next year. Rivian remains in talks with General Motors Co. about the largest U.S. automaker also making an investment, people familiar with the matter said.

The support of the world’s top online retailer signals potential for a partnership on delivery vehicles down the road. Chief Executive Officer R J Scaringe said in his first interview since reports of Rivian’s

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in