GM, Amazon reportedly ready to invest in Rivian electric trucks

GM, Amazon reportedly ready to invest in Rivian electric trucks

Amazon and General Motors are in talks to invest up to $2 billion in electric truck maker Rivian Automotive, a Detroit-based startup that Morgan Stanley's auto market experts have called a "serious competitor" to Tesla, sources familiar with the discussion told Reuters on Tuesday. Negotiations for the investment are reportedly ongoing, and though there's no certainty, the sources claim that a deal announcement may arrive as soon as this month.

Neither GM nor Amazon confirmed the Rivian plans with Reuters or Bloomberg. "We admire Rivian's contribution to a future of zero emissions and an all-electric future".

The Rivian R1T created quite a scene when it was unveiled at the Los Angeles show past year and now GM and Amazon are said to be interested. Tesla and Workhorse are also intent on bringing electric pickup trucks to market - although, Elon Musk has indicated there are several things on his "to do" list that have priority, such as the Model Y crossover. In addition to its Michigan HQ, Rivian's human and physical assets include an office in Silicon Valley (of course), a team of ex-McLaren engineers, former Chrysler design chief Tom Gale as a corporate director, and the Diamond-Star auto-assembly plant, formerly owned by Mitsubishi, in Normal, Illinois, which it purchased recently for just $16 million.

Unlike rival automakers, Rivian is not trying to develop its own self-driving technology.

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Having grown from around 100 employees in 2016 to more than 600 staff members as of today, investors have to at least give Rivian more than a quick glance. The company says its R1T pickup will have a range of 400 to 650 kilometres and four electric motors, one for each wheel.

American startup automaker Rivian has unveiled the all-electric pickup it hopes to put on sale in 2020 with innovative tech and design. It expects to begin production of its W-15 electric pickup for commercial customers in the second half of this year, and for private customers in early 2020.

GM now sells the battery-powered Chevrolet Bolt electric crossover and has promised to introduce 20 new all-electric models by 2023, so far confirming only that one of them will be a Cadillac utility vehicle. A battery-only F-150 is expected after that.

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