Rivian In Talks With GM, Amazon For $2 Billion Truck Investment Deal

68


2 H BY

ERIC LOVEDAY

See! We told you electric pickup trucks were hot.

And no make is hotter right now than Rivian with its R1T electric truck and R1S SUV.

The electric pickup truck maker will get a huge boost if this deal involving both Amazon and General Motors goes through.

As Reuters exclusively reports:

Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion (775 million pounds) and $2 billion.

GM is no stranger to electric and electric trucks. It offered an electric pickup back in the 90s, but that was then and this is now. More recently, GM hinted at a full-size electric truck, but it didn’t provide a timeframe. This deal could speed time to develop of a new Chevy and GMC electric pickup truck.

For Amazon, this could be some sort of delivery vehicle idea, or perhaps just a strategic investment to make money.

As for Rivian, the electric automaker is believed to be well funded already, but this is billions and that’s a ton of money to assist with production and development of future electric adventure vehicles.

Reuters reached out for comment. GM issued this statement:

“We admire Rivian’s contribution to a future of zero emissions and an all-electric future.”

But Amazon and Rivian did not immediately respond to requests for comment.

Developing story…

Source: Reuters

Categories: Rivian, Trucks

Tags: , ,



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here