- Aug 5, 2021
A few months ago at the Los Angeles Auto Show, a new electric pickup truck and battery-powered crossover had stolen the spotlight at the show. The crossover pickup truck was manufactured by the Rivian Automotive. This pickup truck was supposed to be one of its kind. Even though Rivian itself is a young company, by the power of their innovation they have been able to create a stir among the tech-giants who rule over the global market.
The rave that they have been able to create has apparently made General Motors and Amazon interested in investing in the Rivian Automotive. If everything goes according to plan, the General Motors and Amazon will make an investment deal with the Michigan based company, Rivian and that investment could value the company at between $1 billion and $2 billion. If everything runs as smoothly as expected, General Motors and Amazon will own minority stakes in Rivian, as early as this month.
The news about the investment deal has not been confirmed either by Amazon or by the Rivian Automotive itself. As far as Amazon is concerned, Amazon does not comment on what may be termed as rumors or speculations.
A spokesperson on Rivian’s behalf, Michael McHale too refused to comment anything on the investment rumors. However, the company has revealed in an emailed statement that the “we admire Rivian’s contribution to a future of zero emissions and an all-electric future.”
The venture of Rivian’s electric pickup truck was led by MIT trained Ph.D. R.J Scaringe. They want to bring to the market their R1T electric pick up next year and by doing so they are hoping to surpass the famous and popular Tesla. The pricing for the truck will start from about $69,000. The truck is said to have the range of up to 400 miles per charge and both the pickup and the R1S crossover will be built off of a “skateboard” chassis. The sides of the truck will be reserved for the installation of the suspension system and much of the floor will be spread over with the battery pack.