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

(Reuters) – Amazon.com Inc and General Motors Co 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 Rivian deal would come as its much larger electric car manufacturing rival, Tesla Inc, struggles to stabilize production and deliver consistent profits as it rolls out its flagship Model 3 sedan. GM last month announced a strategy to make its luxury Cadillac its lead electric vehicle brand, revealing it would be the first vehicle built on the Detroit automaker’s “BEV3” platform to challenge Tesla.

Source: www.reuters.com