Amazon.com Inc and General Motors Co are in talks to invest in electric vehicle maker Rivian Automotive LLC in a deal that would value the company between $1 billion – $2 billion. If the negotiations conclude successfully, a deal would give the two a minority stake, and could be announced as early as this month, though the talks could still fall through. “We admire Rivian’s contribution to a future of zero emissions and an all-electric future,” said GM said in an emailed statement. What sets Rivian apart from other electric automakers is its “skateboard” platform that packages the drive units, battery pack, suspension system, brakes and cooling system all below wheel height to allow for more storage space and greater stability due to a lower center of gravity. Read more for another video and additional information.
“The Rivian deal would come as its much larger electric car manufacturing rival, Tesla Inc, struggles to stabilize production and deliver consistent profits as it rolls out its flagship Model 3 sedan. Amazon has also invested in self-driving car startup Aurora Innovation Inc, in a $530 million funding round announced last week,” reports Reuters.