Amazon owns a 20 percent stake in Rivian

Amazon owns a 20 percentage stake in electric powered shipping startup Rivian, consistent with a current SEC disclosure noticed with the aid of using Bloomberg. As of September 30th, the corporation stated it held fairness investments, “together with desired inventory of Rivian Automotive,” valued at $3.eight billion, up from $2.7 billion on the cease of 2020. That Amazon ought to very own a 5th of Rivian isn’t always surprising. In 2019, the store led a $seven hundred million funding spherical withinside the automaker, contributing about $440 million to that total.

That equal year, it introduced as a part of its 2040 weather pledge it’d buy 100,000 electric powered transport cars from Rivian. The first of these EVs, a cutesy van, started out making deliveries in Los Angeles on the begin of the year. Amazon hopes to have 10,000 of its Rivian EVs on the street with the aid of using the cease of 2022.

As you may imagine, that has positioned strain on Rivian to supply for its largest customer. Per Bloomberg, the corporation has prioritized production trucks for Amazon on the rate of its purchaser cars just like the R1T and R1S. The former turned into alleged to debut in 2020, however following a sequence of pandemic-associated delays, the primary customer-geared up automobile best rolled out of the corporation’s Normal, Illinois manufacturing facility this beyond September.