Amazon owns a 20 % stake in electrical transport startup Rivian, in accordance with a recent SEC disclosure noticed by Bloomberg. As of September thirtieth, the corporate stated it held fairness investments, “together with most popular inventory of Rivian Automotive,” valued at $3.8 billion, up from $2.7 billion on the finish of 2020. That Amazon ought to personal a fifth of Rivian is no surprise. In 2019, the retailer led a $700 million investment round within the automaker, contributing about $440 million to that whole.
That very same yr, it introduced as part of its 2040 climate pledge it will buy 100,000 electrical supply automobiles from Rivian. The primary of these EVs, a cutesy van, started making deliveries in Los Angeles at the beginning of the yr. Amazon hopes to have 10,000 of its Rivian EVs on the highway by the top of 2022.
As you may think, that has put strain on Rivian to ship for its largest buyer. Per Bloomberg, the corporate has prioritized manufacturing vans for Amazon on the expense of its client automobiles just like the R1T and R1S. The previous was speculated to debut in 2020, however following a collection of pandemic-related delays, the primary customer-ready car solely rolled out of the corporate’s Regular, Illinois manufacturing unit this past September.
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