Amazon and Basic Motors are in talks to put money into Rivian Automotive LLC in a deal that can worth the U.S. electrical pickup truck producer at between $1 billion and $2 billion, individuals acquainted with the matter instructed Reuters on Tuesday.
The deal would give Amazon and Basic Motors minority stakes in Rivian, the sources stated. It might be a significant enhance for the Plymouth, Michigan-based startup, which aspires to be the primary carmaker to the U.S. market with an electrical pickup.
If the negotiations conclude efficiently, a deal may very well be introduced as early as this month, the sources stated, asking to not be recognized as a result of the matter is confidential. There may be at all times an opportunity that deal talks fall via, the sources cautioned.
Amazon, Basic Motors and Rivian didn’t instantly reply to Reuters requests for remark.