Amazon is on a spending spree.
Last week the online retailer invested in
self-driving vehicle startup Aurora. On Friday, it announced it
was the main investor in an upcoming all-electric truck and SUV
Amazon leads a group investing $700 million in the company,
which debuted its
R1T pickup and R1S SUV at the LA Auto Show in November.
Amazon wants better delivery and logistics, making the electric
technology that gives Rivian vehicles more than 400 miles of range
very appealing. In a statement, Jeff Wilke, Amazon CEO of Worldwide
Consumer, said, “We’re inspired by Rivian’s vision for the
future of electric transportation.”