Hyperdrive
Bezos’s Big Van Order Signals Amazon-Backed Rivian Is ‘For Real’
- Amazon locks-in 100,000 EVs before startup makes first truck
- Deliveries expected by 2021, with 10,000 on road by late 2022
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If investments from Amazon.com Inc. and Ford Motor Co. weren’t reason enough to take note of Rivian Automotive Inc., a six-figure order by Jeff Bezos has elevated the electric-vehicle upstart -- all before it’s made its first truck or SUV.
The billionaire announced plans Thursday to buy 100,000 electric vans from Rivian, custom-built for Prime deliveries, as part of an Amazon environmental initiative designed to meet the goals of the Paris climate accord 10 years early. The deal follows a $700 million investment in Rivian that the online retailer led in February.