(MENAFN) American electric pickup manufacturer Rivian Automotive LLC will receive USD700 million of investments from Amazon among other firms.
According to Rivian founder and CEO R.J. Scaringe, the amount will be granted mostly from Amazon with "participation from existing shareholders."
The top official affirmed that "this investment is an important milestone for Rivian and the shift to sustainable mobility."
Automotive analyst Michelle Krebs suggested that "the investment is a drop in the bucket for Amazon, but it is huge for Rivian in terms of the amount of money and in terms of raising the profile of Rivian."
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