Amazon Invest $700 Million into Rivian electric vehicles

Rivian R1S
Image Credit: Rivian

Last November, at the Los Angeles Auto Show, the EV start-up Rivian showed the world its electric R1T pickup truck and R1S SUV. Amazon joined forces with the company, and is set to lead a $700 million equity investment, outbidding GM for this opportunity. Rivian’s founder and CEO, RJ Scaringe stated, “This investment is an important milestone for Rivian and the shift to sustainable mobility. Beyond simply eliminating compromises and efficiency, we are working to drive innovation across the entire costumer experience. Delivering on this vision requires the right partners, and we are excited to have Amazon with us on our journey to create products, technology and experiences that reset expectations of what is possible.” Rivian has a 2.6-million-square-foot production plant that is located in Normal, Illinois. Production on both vehicles is expected to commence in late 2020, with global introduction to other international locations starting in 2021. 

The only information released regarding the Amazon investment, states that Rivian will remain an independent company, and current shareholders will remain an important part of the growth. Reuters gave a rough estimate valuation of the company between $1-2 billion. Amazon CEO Worldwide Consumer, Jeff Wilke commented, “We’re inspired by Rivian’s vision for the future of electronic transportation. RJ Scaringe has build an impressive organization, with a product portfolio and technology to match. We’re thrilled to invest in such an innovative company.” Rivian is creating a new culture with their vision. They are designing technology, vehicles and services people can use to explore the world. Rivian has a team of over 750 people throughout their development centers located in Plymouth, Michigan, San Jose and Irvine, California, and Surrey, England. 

Both vehicles will deliver a range of up to 400+ miles per charge, while providing an unmatched combination of performance, off-road capability and utility. The Quad-Motor System gives the driver control both on and off-road. It has a Water Fording rating of up three feet, passing the Jeep 30 inches capability. The performance is uncanny, it hits 0-60 in 3 seconds with zero emissions. The R1T All-Electric Truck is a five-passenger that delivers unmatched capability, efficiency, utility and performance. The interior has a digital dashboard designed for navigation, connectivity and entertainment. The truck bed includes a Flexible Crossbar System that easily expands and collapses to utilize the roof, bed and bed floor for any gear. It has a towing capacity of 11,023 pounds and a payload of 1,763 pounds. The R1T pricing starts at $61,500 after Federal Tax Rebate. The R1S SUV has all the same performance and options, but seats seven. The towing capacity is 7,716 pounds and it has a payload of 1,763 pounds. The R1S SUV pricing starts at $65,000 after Federal Tax Rebate. Rivian is now accepting preorders on its R1T and R1S. 

Image Credit: Rivian


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