Amazon Leads $700 Million Investment In Electric-Truck Startup

Electric pickup-truck startup Rivian is receiving an equity investment of $700 million in a round led by Amazon.

The Michigan company is working on two vehicles, promising to deliver up to more than 400 miles of range with off-road capability.

Rivian introduced both the battery-powered RIT truck and the RIS SUV electric sport utility vehicle at the Los Angeles Auto Show in November.

"We're inspired by Rivian's vision for the future of electric transportation," stated Jeff Wilke, Amazon CEO worldwide consumer. "RJ has built an impressive organization, with a product portfolio and technology to match."

The vehicles are scheduled to be produced at Rivian’s manufacturing plant in Illinois with customer deliveries expected to start in late 2020.

Amazon recently participated in a $530 million investment raised by autonomous technology developer Aurora.

2 comments about "Amazon Leads $700 Million Investment In Electric-Truck Startup".
Check to receive email when comments are posted.
  1. R MARK REASBECK from www.USAonly.US , February 18, 2019 at 7:12 p.m.

    Better ask people who drive "real trucks"  (Ford, Chevy , Dodge, 3/4  and 1/ ton trucks)
    will never buy an electric truck to pull a trailer , camper etc.  No substitute for "Crude Horsepower"  This is for Ridgerunner  drivers.

  2. R MARK REASBECK from www.USAonly.US , February 22, 2019 at 7:20 p.m.

    How's that tesla 3-Volt working out for Consumer products?
    And the shock of the insurance  going from avg $800 to $2800
    why............????? because the damage the battery can do or the replacement cost.
    Chevy Volt replacement batteries are $7300 to $10k.  I can buy 4500 gallons of gas
    for that kinda money AND............I only need to stop long enough to fill the tank,
    NOT Charge it.  4500 gallons should take most cars 90,000 miles.............the life of a Volt Battery.   

Next story loading loading..