Items tagged with r1s
Watch out, Tesla. There’s a new EV startup in town and it has the backing of one of the largest companies in the world. Earlier this week, we reported that both General Motors and Amazon were considering investing in Rivian, which is on track to deliver an all-electric pickup truck and crossover SUV early next decade. Today, Rivian has confirmed that Amazon has invested a healthy $700 million into the company. Amazon is not a company that throws around money on a whim, so it must see some incredible potential in Rivian and its product lineup. It’s also likely that Amazon got a peek at some strong preorder numbers for the R1T (pickup) and R1S (crossover) that eased any fears...
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When the Rivian R1T pickup and its R1S SUV counterpart were first revealed back in late November, many were understandably skeptical. After all, we’ve heard a lot about “Tesla Killers” over the years, but none has really stepped up to the challenge… yet. But according to a new report, Rivian could soon be getting a big boost in confidence (and funds) from two unlikely sources. According to Reuters, both Amazon and General Motors are looking at taking minority stakes in the Michigan-based automotive startup. Based on comments from people familiar with the backroom financials, the investment would value Rivian at between $1 billion to $2 billion. If all goes...
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