The automotive and retail giants are in talks with Rivian in an investment deal that could value the young company at between $1 billion and $2 billion, according to Reuters, citing people familiar with the matter. If negotiations are successful, a deal giving GM and Amazon minority stakes in Rivian could happen as early as this month, according to the report.
(For more on Rivian, see Meet R.J. Scaringe, Founder Of Rivian Automotive—And Tesla’s Worst Nightmare)
Amazon doesn't comment on "rumor/speculation," a company spokesperson said, as did Michael McHale, a Rivian spokesman. General Motors also declined to comment on whether investment talks were taking place. Still, the carmaker said in an emailed statement that “we admire Rivian’s contribution to a future of zero emissions and an all-electric future.”
Led by MIT-trained PhD R.J. Scaringe and based in Plymouth, Michigan, Rivian aims to speed past Elon Musk's Tesla by getting its R1T electric pickup to market next year. The high-powered truck, priced from about $69,000, is to have range of up to 400 miles per charge and is designed to go off road and tow thousands of pounds of cargo.
Both the pickup and R1S crossover will be built off of a "skateboard" chassis, with the battery pack spread across much of the floor and motors and suspension system installed on the sides. Rivian plans to build its vehicles in Normal, Illinois, at a plant previously used for decades by Mitsubishi Motors.
Source: https://www.forbes.com/sites/alanoh...-electric-pickup-startup-rivian/#4640fb0a11c8
