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UPDATE 1-Electric truck startup Rivian gets funding from Amazon

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Feb 15 (Reuters) - U.S. electric pickup truck maker Rivian Automotive LLC on Friday announced an equity investment of $700 million, led by Inc.

Reuters reported on Tuesday that Amazon and General Motors Co were in talks to invest in Rivian in a deal that could value the company between $1 billion and $2 billion.

Both Rivian and Amazon declined to comment on the valuation.

The investment comes on the heels of Rivian unveiling its all-electric R1T pickup and R1S SUV at the Los Angeles Auto Show last November, the company said.

The funding will be a major boost for the Plymouth, Michigan-based startup, which aspires to be the first carmaker to the U.S. consumer market with an electric pickup.

Last week, Amazon had invested $530 million in self-driving car startup Aurora Innovation Inc.

Rivian's existing financial backers include Saudi auto distributor Abdul Latif Jameel Co, Sumitomo Corp of Americas and Standard Chartered Bank. (Reporting by Sayanti Chakraborty in Bengaluru; Editing by James Emmanuel and Arun Koyyur)