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Exclusive: Amazon, GM in talks to invest in electric pickup maker Rivian - sources


(Reuters) - and Co are in talks to invest in Automotive LLC in a deal that will value the U.S. at between $1 billion and $2 billion, people familiar with the matter told on Tuesday.

The deal would give Amazon and 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 to the U.S. 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.

Amazon, and did not immediately respond to requests for comment.

(Reporting by in New York and Stephen Nellis in San Francisco; Additional reporting by in Detroit and Jeffrey Dastin in San Francisco; Editing by Bill Rigby)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 03:42 IST