Amazon leads $700M round in electric automaker Rivian

TechCrunch | 2/15/2019 | Staff
liizu (Posted by) Level 3
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Rivian, the electric automaker that debut its first two vehicles just three months ago, has raised $700 million in a round led by Amazon .

The news follows a report earlier this week by Reuters that GM and Amazon were in talks to invest in the electric vehicle company.

Rivian - Vision - Future - Transportation - Amazon

“We’re inspired by Rivian’s vision for the future of electric transportation,” Amazon CEO Worldwide Consumer Jeff Wilke said in a statement. “RJ has built an impressive organization, with a product portfolio and technology to match. We’re thrilled to invest in such an innovative company.”

Rivian says it will remain an independent company. The equity round also includes participation from existing shareholders. Rivian and Amazon are not disclosing additional details about this investment.

Company - Majority - Life - Shadows - Founder

Rivian is a curious company that has spent the majority of its life in the shadows. Founder and CEO RJ Scaringe launched it as Mainstream Motors in 2009. By 2011, the...
(Excerpt) Read more at: TechCrunch
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