Amazon Discloses 20 Percent Stake in EV Maker Rivian

By Reuters
Reuters
Reuters
October 29, 2021 Updated: October 29, 2021

Amazon.com Inc., an early backer of Rivian Automotive, now owns about a fifth of the electric-truck maker, the e-commerce giant disclosed in a quarterly filing on Friday.

Ford Motor Co., which has a strategic relationship with Rivian, removed a representative from the startup’s board earlier this month.

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Rivian introduces an all-electric R1S SUV at Los Angeles Auto Show in Los Angeles, Calif., on Nov. 27, 2018. (Mike Blake/Reuters)

At the end of the third quarter, Amazon had an equity interest of about 20 percent in Rivian, according to the filing.

Amazon on Thursday reported lackluster quarterly results and warned that a tightening labor market and rising costs would hurt its holiday-quarter results.

Reuters