Report: Amazon, GM want stake in Rivian

Posted on February 12, 2019

 

R1S
The R1S sports utility vehicle that Rivian plans to build at the former Mitsubishi Motors plant in west Normal. (Rivian photo)

 

By Howard Packowitz

NORMAL – The international news agency Reuters reported Tuesday that Amazon and General Motors are in talks to invest in Rivian Automotive in a deal that would value the U.S. electric vehicle manufacturer, with a factory in Normal, at between $1 billion and $2 billion.

The deal would give Amazon and General Motors minority stakes in Rivian, according to sources familiar with the matter who say a deal could be announced later this month. However, they cautioned there’s always a chance the deal could still fall through.

The Plymouth, Michigan firm plans to make the R1T pick-up truck and the R1S sports utility vehicle at the former Mitsubishi Motors plant in west Normal. Rivian unveiled both vehicles just after Thanksgiving at the Los Angeles Auto Show.

GM said In a statement that “we admire Rivian’s contribution to a future of zero emissions and an all-electric future.” However, GM declined to talk about any talks with Rivian.

Reuters said Rivian declined comment, and Amazon did not respond to requests for comment.

Howard Packowitz can be reached at [email protected]

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