Rivian announces $700 mln funding round led by Amazon

Feb 15 () – U.S. electric pickup truck manufacturer Rivian Automotive LLC on Friday announced an equity investment round of $700 million, led by Amazon.com Inc. had 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. The investment comes on the heels of Rivian unveiling its all-electric R1T pickup and R1S SUV at the LA Auto Show last November, the company said. Rivian declined to comment on its valuation. (Reporting by Sayanti Chakraborty in Bengaluru; Editing by James Emmanuel)Our Standards:The Thomson Trust Principles.