Rivian Automotive Receives $700 Million From Amazon And Others In Latest Round Of Fundraising

Earlier this morning Rivian confirmed reports that Amazon was interested in acquiring a minor stake in the company, and they’ve done so, along with several other investors.

The electric startup recently debuted the R1T and R1S pickup and SUV with an initial on sale date of late 2020. Rumors about General Motors being interested in a similar arrangement surfaced this week as well, but the automaker was not involved with the latest round of investment agreements. At this point the online retailer isn’t committing strongly to Rivian. Is the company looking for a solid platform that will help them build an all-electric vehicle fleet, or something else? Time will tell, but for now it looks like Rivian has impressed at least one major corporation.