Can Rivian Automotive become the next Tesla? General Motors and Amazon may think. Based on Reuters, these two corporate giants have been reported to be in discussions to purchase Rivian, the 10-year-old electric-vehicle firm that introduced its initial vehicles, the R1T full sized pickup truck and R1S SUV, at the Los Angeles auto show last November.
GM, through a spokesperson, responded to Automobile’s request for comment with this: “We respect Rivian’s participation to a long run of also an future along with emissions. ” A Rivian spokesperson told Automobile, “We don’t even comment on speculation. ”
Last November, GM announced a contentious restructuring that sees a few gas-powered sedan versions cut out of the lineup and leaves five North American assembly plants without a product to build as the automaker changes toward an EV future. GM intends 20 electrical vehicles.
wrote that Rivian’s no business plan involves sharing its elastic, resizable EV platform with other manufacturers.
GM and Amazon investments could provide them minority stakes in Rivian Automotive and appreciate the Plymouth, Michigan–established EV startup at $1 billion to $2 billion, Reuters says, citing resources. That could place the automaker and the retail giant with tremendous potential on an manufacturer’s ground floor. Fellow EV automaker Tesla includes a current market cap of nearly $53 billion, only a few of billion short of GM’s own number. In one more, Google-like proceed to proceed past its core business, Amazon has been reported to have made an investment in autonomous-vehicle technology development startup Aurora (one of their co-founders, Chris Urmson, formerly helped lead driverless-car growth at Google).
The post Catch It While You Can: GM and Amazon Reportedly to Invest in Rivian appeared first on Automobile Magazine.
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