Detroit Auto Maker Rivian landed $700M in investment commitments lead by Amazon. Rumors were swirling earlier this week that Amazon and GM were in talks to provide investment that valued the company between $1B and $2B. GM is not part of this round of investing, but that does not mean GM is out of it just yet.
Rivian plans to introduce the R1T pickup (shown above) in 2020 with the R1S SUV following later. Four more vehicles are planned starting in 2025. The vehicles are set to be produced at Rivian's plant in Normal, Ill., a former Mitsubishi facility.
Amazon's interest in Rivian includes using Rivian's technology to support its own logistics and delivery services. GM's interest comes from CEO Mary Barra's commitment to a Zero emissions future. GM is studying the feasibility of an Electrified GMC Sierra while crosstown rival Ford has plans for an EV F-150.
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