Amazon owns a 20 percent stake in Rivian

I. Bonifacic@igorbonifacicOctober 29th, 2021In this article: electric powered auto, news, Amazon, equipment, R1S, R1T, EV, transportation, RivianRivian

Amazon owns a 20 percent stake in electrical transportation startup Rivian, in accordance to a current SEC disclosure noticed by Bloomberg. As of September 30th, the firm explained it held fairness investments, “like desired stock of Rivian Automotive,” valued at $3.8 billion, up from $2.7 billion at the end of 2020. That Amazon should really own a fifth of Rivian is not stunning. In 2019, the retailer led a $700 million expense spherical in the automaker, contributing about $440 million to that overall. 

That exact same yr, it introduced as element of its 2040 climate pledge it would buy 100,000 electric shipping vehicles from Rivian. The to start with of individuals EVs, a cutesy van, began generating deliveries in Los Angeles at the start off of the yr. Amazon hopes to have 10,000 of its Rivian EVs on the street by the conclude of 2022.

As you could picture, that has set tension on Rivian to supply for its most significant purchaser. For each Bloomberg, the enterprise has prioritized production vans for Amazon at the expense of its consumer motor vehicles like the R1T and R1S. The former was supposed to debut in 2020, but next a collection of pandemic-associated delays, the first buyer-completely ready auto only rolled out of the company’s Standard, Illinois factory this previous September.

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