Reuters says the deal would give both companies a minority interest in the Plymouth, Michigan, company, according to a person familiar with the negotiations.
Amazon has not commented on the report, but GM issued a statement that said "we admire Rivian's contribution to a future of zero emissions and an all-electric future", while a Rivian spokesperson told the Detroit News that "we respect GM's vision of the future of mobility but have no immediate comment on this story". It would be a major boost for the Plymouth, Michigan-based startup, which aspires to be the first vehicle maker to the US market with an electric pickup.More news: Watch Pregnant Amy Schumer Make a Gender Announcement
The Rivian deal would come as its much larger electric auto manufacturing rival, Tesla Inc, struggles to stabilize production and deliver consistent profits as it rolls out its flagship Model 3 sedan. Tesla and Workhorse are also intent on bringing electric pickup trucks to market - although, Elon Musk has indicated there are several things on his "to do" list that have priority, such as the Model Y crossover. In a statement, GM said: "We admire Rivian's contribution to a future of zero emissions and an all-electric future", but did not further elaborate on the status of their deal with the electric vehicle manufacturer. It expects to begin production of its W-15 electric pickup for commercial customers in the second half of this year, and for private customers in early 2020. The company was founded in 2009 by CEO R.J. Scaringe.
Big automakers, including GM, have not jumped into the market for electric pickups thus far.More news: Grammys 2019: Chris Cornell’s children accept posthumous award
The No. 1 United States automaker is counting on profit from sales of conventional large pickup trucks and sport utility vehicles in North America to fund its electrification push. It also faces demand pressure globally as the government tax incentives for electric vehicles phase out in the US and the Chinese government hikes tariffs on American cars amid a bitter trade war. Last Thursday, autonomous vehicle startup Aurora announced that it had raised $530 million from investors including Amazon, Sequoia and others. Rivian's largest investor is the Saudi Arabian automotive conglomerate Abdul Latif Jameel, a spokesman for the startup tells The Drive. Sumitomo Corporation of America has also invested an undisclosed amount of money and Standard Chartered has provided $200 million in debt financing.More news: Red Bull unveil new Honda-powered F1 auto ahead of 2019 campaign