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Amazon Invests $700M in Electric Vehicle Startup Rivian

2159 Views 3 Replies 3 Participants Last post by  jlinn

Amazon, the e-commerce giant that’s probably sending a cookbook to your neighbor’s house as you read this, is leading a $700-million investment in Michigan-based automotive startup Rivian.

What’s missing from this news is General Motors, which, according to sources who spoke to Reuters and Bloomberg earlier in the week, was looking to sink its own cash into the company.
In a media release, Rivian announced “an equity investment round of $700M led by Amazon,” with Automotive News revealing the other investor as Rivian investment partner ALJ.

Rivian hopes to start production of its R1T pickup in a former Mitsubishi assembly plant in Normal, Illinois, by the end of 2020. The truck, which offers a choice of three battery sizes, draws its power from electric motors positioned at each wheel. Total range tops out at around 400 miles, Rivian claims.

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Great to see that even big tech companies are going through with these investment into other industries. What I would like to see is an even bigger take over by Amazon, that way maybe the cash flow would make Rivian a leading automaker much faster.
So I did some more research on Amazon and it turns out they're on a spending spree on just about anything R&D and acquisition related. Preparing them for the next decades to come. if this keeps up what are the odds they'll grow so big that brands like Tesla that are in an unstable position get acquired as well?
The question is... will I be able to order it on Amazon Prime with 2 day free delivery. :p
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