Hyperdrive
Amazon Leads $700 Million Bet on Electric Truck Maker Rivian
- GM is said to continue discussing investment in the company
- 36-year-old CEO seeks strategic partnerships to grow
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Amazon.com Inc. led a $700 million equity investment in Rivian Automotive LLC, the electric pickup and SUV maker preparing to deliver its first vehicles next year.
The backing from Amazon will bolster Michigan-based Rivian’s plans to bring an electric truck to market in late 2020. Rivian remains in talks with General Motors Co. about the largest U.S. automaker making an investment or collaborating another way, people familiar with the matter said.