Amazon, GM in talks to invest in electric pickup truck maker Rivian: sources

[Eugene]

Source: Reuters

BUSINESS NEWS FEBRUARY 12, 2019 / 5:05 PM / UPDATED 30 MINUTES AGO

Amazon, GM in talks to invest in electric pickup truck maker Rivian: sources

Harry Brumpton, Stephen Nellis
4 MIN READ

(Reuters) - Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter said on Tuesday.

The deal would give Amazon and GM minority stakes in Rivian, the sources said. It would be a major boost for the Plymouth, Michigan-based startup, which aspires to be the first carmaker to the U.S. consumer market with an electric pickup.

If the negotiations conclude successfully, a deal could be announced as early as this month, the sources said, asking not to be identified because the matter is confidential. There is always a chance that deal talks fall through, the sources cautioned.

“We admire Rivian’s contribution to a future of zero emissions and an all-electric future,” GM said in an emailed statement, declining to specifically comment on any talks with Rivian.

-snip-

Read more: https://www.reuters.com/article/us-rivian-electric-amazon-com-gm-exclusi/amazon-gm-in-talks-to-invest-in-electric-pickup-truck-maker-rivian-sources-idUSKCN1Q12PV

[Gumboot]

1. That's an interesting truck!

And I'd guess many GM customers would rejoice at a vehicle that didn't feature a GM transmission or cooling system.