Amazon and General Motors eye investment in Rivian

The deal would reportedly value the US electric pickup truck startup at being worth up to $2 billion

Festival Net Zero 2021

Rivian R1T

Amazon and General Motors are reportedly in talks to invest in electric vehicle (EV) manufacturer Rivian.

According to Reuters, the deal would value the US electric pickup truck startup at between $1 billion (£770m) and $2 billion (£1.5bn).

It would give the multinational corporations minority stakes in the Plymouth, Michigan-based company, which was initially founded in 2009 and plans to begin selling its R1T pickup truck in late 2020.

Reports suggest if the negotiations are concluded successfully, a deal could be announced as early as this month.

Last year General Motors unveiled a new electric bike brand to offer ‘revolutionary and flexible’ electrification technologies.

Amazon has declined to comment on the story.

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