General Motors and Amazon may back electric truck startup Rivian, report says

Amazon and GM invest in electric truck manufacturer

Amazon and GM invest in electric truck manufacturer

Jonas added: "We believe companies like Rivian will take elevated importance in investors' minds as EVs become the focus of OEM investment and strategy".

The logo of Amazon is seen at the company logistics centre in Boves, France, January 19, 2019.

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.

If the negotiations conclude successfully, a deal could be announced as early as this month, the sources said, asking not to be identified because the matter is confidential. As my old Irish grandmother was fond of saying, "There's many a slip twixt the cup and the lip".

GM, through a spokesperson, responded to Automobile's request for comment with just this: "We admire Rivian's contribution to a future of zero emissions and an all-electric future".

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Rivian's stand next to Ford Motor Co. drew huge crowds during the LA Auto Show.

GM, Amazon and Rivian have yet to confirm the talks, even as the idea found support in Wall Street. The pickup will start at $69,000, while the SUV will arrive with a price starting at $72,500. It also faces demand pressure globally as the government tax incentives for electric vehicles phase out in the USA and the Chinese government hikes tariffs on American cars amid a bitter trade war. Both are huge vehicles that could well appeal to affluent customers.

Led by Massachusetts Institute of Technology alumnus R.J. Scaringe, Rivian plans to sell the first examples of the R1T and R1S in 2020.

It seems Workhorse is closest to having an electric truck ready for market.

Rivian plans to begin selling its R1T pickup truck in the fall of 2020. Being first to market could give Workhorse a significant advantage over the competition. Standard Chartered has provided the company with debt financing of $200 million while ALJ has invested nearly $500 million in the company; Sumitomo has invested an undisclosed amount. Rivian's largest investor is the Saudi Arabian automotive conglomerate Abdul Latif Jameel, a spokesman for the startup tells The Drive. That in itself is reason enough for optimism about the inevitability of the electric transportation revolution.

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