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Amazon and GM in talks to invest in electric pickup truck maker Rivian – Report

Auto News - Published on Fri, 15 Feb 2019

Image Source: Nasdaq
Reuters quoted people familiar with the matter as saying that Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that would value the US electric pickup truck manufacturer at between USD 1 billion and USD 2 billion. Sources said that rhe deal would give Amazon and GM minority stakes in Rivian. It would be a major boost for the Plymouth, Michigan-based startup, which aspires to be the first carmaker to the US consumer market with an electric pickup.

If the negotiations conclude successfully, a deal could be announced as early as this month, the sources said, asking not to be identified because the matter is confidential. There is always a chance that deal talks fall through, the sources cautioned.

GM said that "We admire Rivian's contribution to a future of zero emissions and an all-electric future, but declining to specifically comment on any talks with Rivian.”

The Rivian deal would come as its much larger electric car manufacturing rival, Tesla Inc, struggles to stabilize production and deliver consistent profits as it rolls out its flagship Model 3 sedan.

Source :

Posted By : Joykumar Irom on Fri, 15 Feb 2019
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