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Amazon invests in startup building electric pickup trucks and SUVs funding

Electromobility is almost no longer a major company. Also not Amazon. As VentureBeat reports, the online giant has invested a whopping $ 700 million in US startup Rivian. It specializes in the development and production of electrically powered pick-ups a popular vehicle category in the US.

Amazon is less concerned with bringing electric cars to market, but with technologies to equip their own electric vehicles, according to the report. VentureBeat also refers to internal documents that have been leaked to the industry blog. The valuation of Rivian is estimated at three to four billion dollars.

From 2020 in the USA

Rivian himself has presented his upcoming models R1T (pick-up) and R1S (SUV) in November 2018 at a car show in Los Angeles. They are expected to enter the US market in 2020, but observers have already drawn attention to their targeted range of up to 650 kilometers. For those who want to buy the vehicles, it will not be cheap. At least $ 60,000 you have to go for the smaller model.

Amazon, like Google and Tesla, is increasingly active in the mobility sector. It recently raised $ 530 million to invest in the Aurora Innovation startup. This in turn has specialized in self-driving cars. The combination of electromobility and autonomous driving is considered promising. Because it promises, among other things, the cheap and environmentally friendly transport of people and goods like with green electricity and rechargeable batteries.

Rivian is as many other manufacturers too  a future Tesla competitor. After all, Elon Musks company also wants to launch an electric pick-up on the market.


Also published on Medium.

Published inStartups

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