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Amazon leads $ 700 million investment in Rivian's electric pickup pickup



( Reuters ) – Amazon.com said it would lead an investment of $ 700 million. The American electric pickup that launches Rivian Automotive, in the highest e-commerce technology with the ability to change the automotive sector.

The agreement represents the strong approval of Rivian electric vehicle technology, the world's largest online store. Amazon hopes that Rivian will help her in the development of delivery vehicles that will strengthen its logistics network, said a person familiar with this issue who asked not to be identified by discussing a confidential strategy.

Reuters reported that Amazon and General Motors were in talks to invest in Rivian. GM's talks with Rivian on the investment are ongoing and any deal will be announced later, people informed about the talks said on Friday.

The Rivian deal comes as its much larger electric vehicle produces an opponent, Tesla, is struggling to stabilize production and deliver sustainable profits as it ramps its Model 3 sedan, with pricing ultimately aimed at giving this mass market appeal. Tesla Chief Executive Elon Musk told investors in August that an electric pickup is "probably my personal favorite for the next product" from the company. But he only spoke about a potential launch, saying it would happen "right after" the Tesla model, which the company plans to launch in production in 2020.

Rivian introduced its electric pickup R1

T and R1S SUV for the first time at the Los Angeles Auto Show in November last year. However, Amazon has been amazed by Amazon's interests before.

Amazon CEO Jeff Bezos personally addressed the founder and CEO Rivian R.J. Yesterday's summer expressed interest in investments, said the source. Since then, Amazon has increased its investments in the automotive sector by contributing $ 530 million in funding, announced last week at Aurora Innovation Auto Backup.

Amazon is looking for deals that can accelerate packages to buyer thresholds, regardless of increased consumer demand or lack of vendors. Last year, Mercedes said that Amazon was the largest customer of its Sprinter van, providing 20,000 vehicles to suppliers.

Amazon tried to win customers and in a car. Working with BMW AG, Ford Motor and Toyota Motor, Amazon has been able to set up a virtual assistant with Alexa in new models to allow drivers to dictate what kind of music they want to hear and what tasks they want to perform, hands-free.

Rivian strives to be the first to produce an electric pickup of the mass market. He intends to start selling R1T by the end of 2020.

Scaringe described the Rivian platform as a skateboard, which packaged drive units, rechargeable battery, suspension system, brakes and cooling system.

He also said that the company plans to cooperate with external firms to develop advanced self-management technologies, rather than trying to do it on their own.

Some existing shareholders took part in the round of financing, said Rivyan, stressing that he will remain an independent company.

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