Amazon owns a 20 percent stake in Rivian
Amazon owns a 20 percent stake in electric transport startup Rivian, according to a spotted by . As of September 30th, the company said the stake was valued at $3.8 billion, up from $2.7 billion at the end of 2020. That Amazon should own a fifth of Rivian is not surprising. In 2019, the retailer in the automaker, contributing about $440 million to that total.
That same year, it announced it would purchase 100,000 electric delivery vehicles from Rivian. The first of those EVs, , began making at the start of the year. Amazon hopes to have 10,000 of its Rivian EVs on the road by the end of 2022.
As you might imagine, that has put pressure on Rivian to deliver for its biggest customer. Per Bloomberg, the company has prioritized manufacturing vans for Amazon at the expense of its consumer vehicles like the . The former was supposed to debut in 2020, but following a series of pandemic-related delays, the first customer-ready vehicle only rolled out of the company’s Normal, Illinois factory this .
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