EVLN: Amazon's $700M bite of Rivian pickup EVs> unicorn status

classic Classic list List threaded Threaded
1 message Options
Reply | Threaded
Open this post in threaded view

EVLN: Amazon's $700M bite of Rivian pickup EVs> unicorn status

Electric Vehicle Discussion List mailing list

Amazon Invests $700 Million In Electric Vehicle Startup Rivian
Feb 15, 2019  Chuck Tannert

[images  / Rivian
The Players: The R1S SUV and R1T pickup are at the center of Rivian's
success--and they haven't even been produced yet

Heart of the deal: Rivian's skateboard platform is at the center of this

Amazon Leads Investment Round Of $700 Million In Electric Vehicle Startup

If it rolls I write about it: cars, trucks, bikes, you name it ...

The rumor reported earlier this week that Amazon and General Motors would be
heavily investing in electric vehicle maker Rivian turned out to be only
partially true. Rivian announced this morning that Amazon has, in fact, led
an investment round of $700 million, driving the value of the Michigan-based
company over a billion dollars and elevating it to unicorn status.

 “This investment is an important milestone for Rivian and the shift to
sustainable mobility,” said R.J. Scaringe, founder and CEO of Rivian.
“Beyond simply eliminating compromises that exist around performance,
capability and efficiency, we are working to drive innovation across the
entire customer experience. Delivering on this vision requires the right
partners, and we are excited to have Amazon with us on our journey to create
products, technology and experiences that reset expectations of what is

Though details are scarce, Rivian will remain an independent company and
that the investment round, which is Rivian’s largest to date, will continue,
including participation from existing shareholders, presumably ALJ and
Sumitomo. The massive investment makes sense for Amazon, which could be
interested in ultilizing Rivian’s EV platform to bolster its logistics
needs; i.e., act as the base for a battery-powered fleet of vans to
facilitate “last mile” deliveries.

“We’re inspired by Rivian’s vision for the future of electric
transportation,” said Jeff Wilke, Amazon CEO Worldwide Consumer. “R.J. has
built an impressive organization, with a product portfolio and technology to
match. We’re thrilled to invest in such an innovative company.”

In addition, the move helps elevate Amazon into a player in the
transitioning auto ecosystem, a front they have been quite on until now. “In
the last week, they have invested over a billion dollars in companies
(Aurora, and now Rivian) that can put them in a position to compete in the
EV market with Tesla and GM, the two top players,” says Bryan Reimer, a
Forbes contributor and a research scientist in the MIT AgeLab and the
associate director of the New England University Transportation Center.
"That's a big very strategic move."

And while General Motors was not a part of today’s announcement, the two
companies could possibly still be in talks. A GM investment in Rivian makes
a lot of sense for the Detroit automaker as GM is needs more a viable
platform to move its EV efforts forward.
Heart of the deal: Rivian's skateboard platform is at the center of this

The Amazon investment elevates Rivian from mere threat in the EV marketplace
to a company that has the financial wherewithal to compete with any electric
vehicle maker, including Tesla, a company that is chronically under
capitalized. All before it has produced a single truck or SUV.

Rivian plans to roll out its R1S sport utility vehicle and R1T pickup truck
in 2020. The company promises outstanding performance, including up to 400
miles of range and exceptional handling. Both vehicles (which will have a
base price between $68,000 and $72,500) will also deliver considerable power
and speed—both will be able to sprint from zero to 60 mph in 3 seconds.
[© 2019 Forbes Media]
NYC Returns Its Amazon Purchase
The Late Show with Stephen Colbert
Published on Feb 15, 2019
New York City logs into its Amazon account to return the headquarters it

Analyst Discusses Why GM & Amazon Are Interested In Rivian
Feb 14, 2019  If you haven't already heard, Reuters reported that GM and
Amazon have plans to invest in all-electric pickup truck maker Rivian
automotive. Rivian also has a ...

Rivian in talks with GM and Amazon [Report]
KTXS-Feb 13, 2019
General Motors and Amazon could soon invest between $1 billion and $2
billion into Michigan-based electric vehicle hopeful Rivian, according to a
report from ...

The Tesla of trucks? Rivian lands $700 million Amazon-led investment ...
- Rivian got a major boost Friday with the announcement that Amazon is
investing $700 ... Rivian lands $700 million Amazon-led investment as it
powers up in Normal ... Robert ChannickContact ReporterChicago Tribune ...
The company, which had previously raised nearly $700 million in funding,
gains both ...

Amazon Leads $700 Million Bet on Electric Truck Maker Rivian
February 15, 2019 - Amazon.com Inc. led a $700 million equity investment in
Rivian Automotive LLC, the electric pickup and SUV maker preparing to
deliver its first vehicles next year. The backing from Amazon will bolster
Michigan-based Rivian’s plans to bring an electric truck to market in late

Amazon to lead $700M investment in Rivian electric vehicle startup
Feb. 15, 2019  Amazon will lead a $700 million investment in Detroit-area
electric vehicle startup Rivian. Recent reports have focused on a likely
large investment in the ...

Amazon Invests in Electric-Car Maker Rivian
Feb. 15, 2019  “We're inspired by Rivian's vision for the future of electric
transportation,” Jeff ... founded in 2009, unveiled an all-electric pickup
truck and sport-utility vehicle at ...

Flexible bipolar plates for compact batteries
Whether used for power supply or in electric cars, current battery systems
are based on a series of interconnected individual ...

For EVLN EV-newswire posts use:


Sent from: http://electric-vehicle-discussion-list.413529.n4.nabble.com/
UNSUBSCRIBE: http://www.evdl.org/help/index.html#usub
Please discuss EV drag racing at NEDRA (http://groups.yahoo.com/group/NEDRA)