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See! We told you electric pickup trucks were hot.
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.