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 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 Rivian Automotive. If everything goes according to plan, General Motors and Amazon will make an investment deal with the Michigan-based company, Rivian. 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 by Amazon or Rivian Automotive itself. As far as Amazon is concerned, Amazon does not comment on what may be termed rumors or speculations.
A spokesperson on Rivian’s behalf, Michael McHale, also refused to comment on the investment rumors. However, the company has revealed in an emailed statement that “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 a 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.
