As expected, Amazon has made a big investment in EV startup Rivian, to the tune of $700 million. Although Amazon has raised its hand to invest in Rivian, that doesn’t rule out a future investment from General Motors.
Thanks to Amazon’s investment, Rivian is one step closer to releasing its R1T electric truck and R1S electric SUV.
“This investment is an important milestone for Rivian and the shift to sustainable mobility,” stated RJ Scaring, Rivian CEO. “Beyond simply eliminating compromises that exist around performance, capability and efficiency, we are working to drive innovation across the entire customer experience. Delivering on this vision requires the right partners, and we are excited to have Amazon with us on our journey to create products, technology and experiences that reset expectations of what is possible.”
“We’re inspired by Rivian’s vision for the future of electric transportation, stated Amazon CEO Jeff Wilke. “RJ has built an impressive organization, with a product portfolio and technology to match. We’re thrilled to invest in such an innovative company.”
Although Amazon has invested $700 million in Rivian, the electric start up will remain an independent company.