Amazon and General Motors in talks to invest in Rivian

by SpeedLux
Rivian logo and General Motors are discussing possibilities to invest in Rivian Automotive LLC in a deal that will cost the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people knowledgeable with the matter informed Reuters on Tuesday.

The deal would give Amazon and General Motors minority stakes in Rivian, the sources stated. It would be a major push for the Plymouth, Michigan-based startup, which aspires to be the first automaker to the U.S. market with an electric pickup.

If the negotiations took place successfully, a deal could be declared as early as this month, the sources stated, asking not to be identified as the matter is confidential. There is always a possibility that deal talks fall through, the sources alerted.

“We admire Rivian’s contribution to a future of zero emissions and an all-electric future,” GM stated in an emailed statement, according to Reuters, declining to specifically discuss any talks with Rivian.

Rivian refused to discuss. Amazon did not respond to requests for discussion.

The Rivian deal would come as its much larger electric automaker rival, Tesla Inc, is having a hard time to stabilize production and deliver consistent profits as it presents its flagship Model 3 sedan.

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