Amazon.com Inc and General Motors Co are in talks to invest in Rivian Automotive LLC in a deal that will value the U.S. electric pickup truck manufacturer at between $1 billion and $2 billion, people familiar with the matter told Reuters on Tuesday.
The deal would give Amazon and General Motors minority stakes in Rivian, the sources said. It would be a major boost for the Plymouth, Michigan-based startup, which aspires to be the first car maker to the U.S. market with an electric pickup.
If the negotiations conclude successfully, a deal could be announced as early as this month, the sources said, asking not to be identified because the matter is confidential. There is always a chance that deal talks fall through, the sources cautioned.
Amazon, General Motors and Rivian did not immediately respond to requests for comment.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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