GM, Amazon Deal May Give Electric Truck Maker Rivian a Spark
- Upstart debuted pickup and SUV concepts at L.A. show
- Investment in company could be announced as soon as Friday
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Rivian Automotive LLC is moving to gain an edge over bigger electric-car rivals before it even starts manufacturing plug-in pickups.
The startup is in talks with General Motors Co. and Amazon.com Inc. about an investment that would value the company at $1 billion to $2 billion, people familiar with the matter said. If the deal closes, Rivian would get a partner in GM that brings manufacturing expertise and could help it avoid the trouble Tesla Inc. had mass-manufacturing Model 3 sedans. With Amazon, the world’s largest web retailer, Rivian could have a potential blockbuster customer for its electric trucks and SUVs. A deal could be announced as soon as Friday, the people said.