Amazon leads $700mn investment in electric vehicles startup


San Francisco, Feb 16. US online retail giant Amazon
is leading a $700-million funding round for electric truck startup Rivian
Rivian has said.

The latest funds will help produce its first all-electric
vehicles — the R1T pickup truck and the seven-seat R1S SUV, which were
revealed in the November Los Angeles Auto Show, Xinhua news agency reported.

“This investment is an important shift to sustainable
mobility,” said RJ Scaringe, Rivian founder and CEO on Friday.

Scaringe said it was expected to deliver its R1T and R1S SUV
to customers by late 2020. “We’re inspired by Rivian’s vision for the
future of electric transportation,” said Jeff Wilke, Amazon CEO Worldwide

The two vehicles will have up to more than 400 miles (about
644 km) of range with extraordinary performance, off-road capability and
utility, said the auto company.

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