Amazon Leads Investment of $700 Million in Electric Vehicle Startup Rivian

18 Feb 2019

Amazon recently announced its leading of $700 million investment in electric carmaker Rivian. This came after Rivian introduced R1T pickup and R1S sport-utility vehicle at the last Los Angeles Auto Show.

Rivian mentioned that R1T pickup and R1S sport-utility vehicle can deliver more than 643 kilometers per charge with providing a high performance on paved and rugged roads. These two models are expected to be produced at the company's factory in Illinois. In addition, they will be launched by the end of 2020.

This investment is very important milestone for Rivian and the shift to sustainable mobility, while barriers regarding performance, efficiency and high capacity are removed. The electric carmaker will maintain its independence, despite its current value that is not fixed yet.According to Reuters, the range will be from $1 billion to $2.5 billion. Amazon's lead into the electric carmaker makes it a strong competitor to many companies such as Tesla.

Further reading: 2020 Alpina B7 Officially Revealed with 600-Horsepower

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