Amazon and General Motors are in talks to invest in Rivian Automotive LLC in a deal that would value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter said on Tuesday.
The deal would give Amazon and General Motors minority stakes in Rivian, the sources said. It would be a major boost for the Plymouth, Michigan-based startup, which aspires to be the first car maker to the U.S. consumer market with an electric pickup.
If the negotiations conclude successfully, a deal could be announced as early as this month, the sources said, asking not to be identified because the matter is confidential. There is always a chance that deal talks fall through, the sources cautioned.
"We admire Rivian's contribution to a future of zero emissions and an all-electric future," GM said in an emailed statement, declining to specifically comment on the talks with Rivian.