An electrical Amazon supply van from Rivian cruises down the road with the Hollywood signal within the background.
Amazon
Amazon on Friday announced a large stake in Rivian Automotive, a start-up creating electrical automobiles, together with the retail large’s industrial supply vans.
As of Sept. 30, 2021, Amazon held fairness investments, “together with most well-liked inventory of Rivian Automotive, Inc. representing an roughly 20% possession curiosity,” which had a carrying worth of $3.8 billion, up from $2.7 billion in Dec. 31, 2020, the corporate disclosed in an SEC submitting. Amazon has invested greater than $1.3 billion in Rivian to this point, Rivian mentioned in a separate securities submitting earlier this month.
Earlier this month, Rivian filed its IPO prospectus and mentioned it plans to checklist on the Nasdaq below the ticker image “RIVN.” The submitting revealed new particulars about how carefully enjoined Rivian and Amazon are. Rivian is anticipated to carry its IPO in November.
Rivian mentioned Amazon has some unique rights to Rivian’s electrical supply automobiles for a minimum of 4 years, and the best of first refusal after that. Amazon has ordered 100,000 automobiles by 2030. The corporate plans to have 10,000 new electrical supply automobiles from Rivian on the highway as early as subsequent yr.
Ford Motors additionally holds a stake higher than 5% in Rivian. Ford government Alexandra English left the Rivian board in Could, the corporate revealed in a securities submitting earlier this month.
