Amazon has now increased its stake in electric vehicle start-up Rivian to around 20 per cent. This became known via a notification from the e-commerce giant to the US Securities and Exchange Commission (SEC). The online retailer is known to be both an investor and a major customer of Rivian.
According to the official disclosure, as of 30 September, Amazon held equity interests, including preferred shares of Rivian, which account for about 20 per cent of the company’s shares. This stake is said to be worth US$3.8 billion – up from US$2.7 billion as of 31 December 2020.
The US online retailer’s total investment in the electric car startup is now said to add up to US$1.345 billion. The initial investment came in February 2019 as part of a $700 million funding round, with the e-commerce giant famously ordering 100,000 electric transporters from Rivian shortly afterwards. Amazon then increased its investment in Rivian again in January 2021 as part of a total financing round of $2.65 billion.
For its part, Rivian still wants to raise further capital in 2021 by going public on the US stock exchange. With regard to Amazon’s large order for 100,000 electric transporters, new details about the vehicle data have only recently become public. The delivery van specially designed for Amazon is to be built in two equipment lines and three sizes. This emerges from documents that Rivian has submitted to the US authority NHTSA.
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