Amazon, GM in talks to invest in electric pickup truck maker Rivian

GM and Amazon Eye Investment In Rivian

Amazon declined to comment on the report.

General Motors and Amazon are in talks to take a stake in electric truck startup Rvian, people familiar with the matter told Reuters on Tuesday. It would be a major boost for the Plymouth, Michigan-based startup, which aspires to be the first auto maker to the USA market with an electric pickup. The Reuters source says the deal could be announced as early as this month but cautions nothing is final yet. "We admire Rivian's contribution to a future of zero emissions and an all-electric future", GM said in a statement.

The Rivian deal would come as its much larger electric vehicle manufacturing rival, Tesla Inc, struggles to stabilize production and deliver consistent profits as it rolls out its flagship Model 3 sedan.

Rivian plans to begin selling its R1T pickup truck in the fall of 2020. As a unique feature, all of the drive components, batteries, brakes, cooling, and majority of the suspension system fall below the height of the wheels.

Unlike rival automakers, Rivian is not trying to develop its own self-driving technology. CEO Mary Barra admits that a "tiny bit" of thought has gone into electric pickups, but not much beyond that.

Rivian, founded by MIT mechanical engineering doctor R.J. Scaringe in 2009, aspires to be the first US carmaker to offer a mass-produced, off-road electric pickup, a product Tesla CEO Elon Musk also has been eyeing for quite a while.

Sims Sues Trump For Allegedly Approving Campaign's NDA Claim Against Him
Michael Glassner, who leads the Trump campaign, did not immediately respond to a phone call seeking comment. It's not clear whether a campaign nondisclosure would apply to Sims' time working as a federal employee.

Last November, GM announced a controversial restructuring that sees several gas-powered sedan models cut from its lineup and leaves five North American assembly plants with no product to build as the automaker shifts toward an EV future.

With consumer preference shifting to larger vehicles and trucks typically the most profitable models in the lineup for established automakers, analysts say the move to develop electric trucks was nearly a given.

Amazon has also invested in self-driving vehicle startup Aurora Innovation Inc, in a $530 million funding round announced last week.

So why the sudden interest from Amazon in autonomous and electric vehicles? The world's largest online retailer has steadily increased its logistics footprint, building warehouses around the world and inking deals with Mercedes as well as cargo airlines to help with delivery. Sumitomo Corporation of America has also invested an undisclosed amount of money and Standard Chartered has provided $200 million in debt financing.

Rivian already boasts a $500 million stake from Abdul Latif Jameel, whose investments include the US branch of Japan's Sumitomo Bank, and the Toyota distributorship in Saudi Arabia, Kitman reported.

Related News:

  • Sarri hands Chelsea board ultimatum over playing squad

    Sarri hands Chelsea board ultimatum over playing squad

    Chelsea have a temporary reprieve from the Premier League in that period, due to the quirk of the League Cup final against City falling on a weekend of league fixtures.
    Oddsmakers Now Favor Giants To Sign Bryce Harper

    Oddsmakers Now Favor Giants To Sign Bryce Harper

    The Philadelphia Phillies and the San Francisco Giants are the two teams Nightengale believes are still in it for Harper. The San Francisco Giants are now the favorite to sign Bryce Harper , according to oddsmakers.
    Unidentified Man Claims Jussie Smollett is Lying About Attack

    Unidentified Man Claims Jussie Smollett is Lying About Attack

    On Monday night, Fox 32 Chicago anchor Rafer Weigel reported that police "received cell phone records today from Smollett's camp". He also said in an earlier statement that he'd been "100% factual and consistent on every level" when working with police.
  • Rich The Kid Robbed Again In Los Angeles By Ruthless Gunmen

    Rich The Kid Robbed Again In Los Angeles By Ruthless Gunmen

    Although Usher was in the Westlake Recording Studio at the time the incident took place, he was not involved in any way. One of Rich's associates was pistol-whipped, and multiple victims were relieved of their pricey jewelry.
    Paul George & James Harden Both Go For 40+ POINTS In Houston

    Paul George & James Harden Both Go For 40+ POINTS In Houston

    SALT LAKE CITY - Donovan Mitchell scored 23 points, Rudy Gobert had 21 points and 13 rebounds and Utah beat San Antonio. Jabari Parker and Bobby Portis made a triumphant return to Chicago, helping Washington win its second straight game.
    Fed Cup: France and Belarus lead 2-0; Czechs and U.S.  tied

    Fed Cup: France and Belarus lead 2-0; Czechs and U.S. tied

    After dispatching Katerina Siniakova in straight sets, Halep won a crucial three-set rubber over Karolina Pliskova 6-4, 5-7, 6-4. On Sunday, Romania earned a place in the Fed Cup semifinal with a win over the defending champion Czech Republic.
  • Jennifer Lopez turns Motown tribute into own zesty show

    Jennifer Lopez turns Motown tribute into own zesty show

    He came out to perform alongside Lopez and before the show, he addressed the controversy. " Motown was music for everybody". Alongside Smokey Robinson and Ne-Yo, J.Lo performed a medley of hits from the label's heyday at the Staples Center.
    U.S.' Mnuchin hopes for 'productive' trade meetings in China

    U.S.' Mnuchin hopes for 'productive' trade meetings in China

    During that operation, a Chinese destroyer came within 45 yards of the USA warship, forcing it to maneuver to avoid a collision. An airstrip, structures, and buildings on China's man-made Subi Reef in the Spratly chain of islands in the South China Sea.
    Shannon Gabriel issued warning for using abusive language

    Shannon Gabriel issued warning for using abusive language

    The Caribbean side lead the three-match rubber 2-0 following victories by 381 runs in Barbados and by 10 wickets in Antigua. Speaking afterwards, match referee Jeff Crowe said was satisfied the umpires dealt with the matter on the field.
  • Borussia Dortmund's flight to London delayed because Jadon Sancho forgot passport

    Borussia Dortmund's flight to London delayed because Jadon Sancho forgot passport

    One admirer on Twitter said Sancho had "produced a career highlight reel in one game" with an outrageous display of silky skills and assists.
    The real reason plane was denied landing permission in China

    The real reason plane was denied landing permission in China

    New Zealand's Minister for Transport Phil Twyford said his staff told him of the diversion once the issue became public. Air New Zealand did not respond to questions about the aircraft.

    Rapper 21 Savage released from immigration custody

    The 26-year-old, real name Shayaa Bin Abraham-Joseph, has "won his freedom", a statement released on Tuesday said. In 2013, the rapper was shot six times on his 21st birthday in an attack that took the life of his best friend.


Most liked

Meghan Markle being ‘vilified’ by press like Diana, says Clooney
Prince Harry is now happily married to the Duchess of Sussex , Meghan Markle . "They are just so happy", he said. After learning of Clooney's interview, Markle's half-sister, Samantha , took to Twitter to react.

Australia to reopen Christmas Island detention centre
The legislation will now go to the Governor-General for royal assent to become law, but the timeframe for this remains unclear. The government of prime minister Arthur Fadden lost a symbolic budget vote in 1941 and immediately resigned.

Nissan books $84 million Ghosn-related charges, cuts outlook
The bleak outlook comes as Nissan also grapples with the Ghosn scandal and the resulting scrutiny of its corporate governance. Prosecutors have charged the former chairman with failing to report this amount in eight years of Nissan financial reports.

California's liberal Democratic governor nixes high-speed rail line due to cost
This comes after 400 members of the California National Guard were deployed there by Newsom's predecessor Jerry Brown. The project was already years behind schedule, and, before its cancellation, was not due to be complete until 2033.

Gervonta Davis enters boxing ring to 'Thriller' choreography
To fight Mayweather, Nasukawa moved up from is natural 126-pound featherweight division to the 147-pound welterweight division. May is the real fight". "He's been telling the media he's going to knock me out, so I hope we get an action packed fight".

'Coming to America' sequel set for 2020 release
The as-yet untitled " Coming to America " sequel is scheduled to hit theaters on August 7, 2020. The film will be directed by Craig Brewer , whose credits includes Hustle & Flow.

Residents flee raging New Zealand fires
The forest fire began almost a week ago on the South Island and burned 2,300 hectares (5,700 acres). Fires started on Monday and Tuesday and quickly spread.

Mitsubishi ASX crossover updated for 2019
Inside, the company says its smartphone-link display audio system has been improved, now offering "more advanced" connectivity. Mitsubishi has revealed a facelifted version of the ASX compact SUV ahead of its global unveiling at the Geneva motor show .

Jimmie Johnson wins rain-shortened Clash at Daytona
Aside of Johnson, who led only the race's final four laps under caution, three other drivers led at least one lap of the race. Busch said team owner Chip Ganassi complained to NASCAR about Johnson driving below the double-yellow line to make the move.

Five people found shot dead in East Texas home
Lyons says a woman who was found safe and locked in a bedroom closet told investigators that she awoke about 5:30 a.m. The sheriff did not release details about the shooting or the identities of the victims.

Rohit Sharma may be rested for T20Is, team selection on February 15
Moreover, he reckoned giving more game time to Rishabh Pant or Dinesh Karthik could solve the goal . Among them, Rishabh Pant, Ajinkya Rahane and even Vijay Shankar could find a place.

Mistress' brother believed to have outed Jeff Bezos to National Enquirer
The person says those investigators identified Michael Sanchez , a California talent manager, as the person who leaked the texts. But the Daily Beast , citing people inside American Media , reported that Mr Sanchez was the Enquirer's source.

Canada's Opposition leader slams Justin Trudeau over resignation of former AG
Federal Veterans Affairs Minister Jody Wilson-Raybould announced Tuesday morning that she is resigning from cabinet. Wilson-Raybould and to commit to fully cooperate with the Ethic Commissioner's investigation".

Democratic Sen. Amy Klobuchar announces run for president
But her bipartisan approach may not stand her in such good stead in a party now dominated by the progressive left. Some Republicans say Klobuchar is able to get things done because she pushes smaller issues.

Elizabeth Warren: Trump ‘May Not Even Be A Free Person’ In 2020
Warren told reporters her comments were a reference to the multiple investigations that have shadowed Trump's presidency. Evans weighed in after Fox News analyst Brit Hume implied Trump might not have known about the Trail of Tears.