September 29, 2022

Mechanic Escape

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Amazon discloses 20% stake in EV maker Rivian

Amazon.com Inc. owns a 20 per cent stake in electric powered-motor vehicle maker Rivian Automotive Inc., the startup with which it has placed an purchase for a hundred,000 battery-driven delivery vans, the e-commerce huge disclosed Friday in a securities submitting.

As of Sept. thirty, Amazon held fairness investments “including chosen stock of Rivian Automotive, Inc. representing an around 20 per cent possession fascination,” with a carrying value of $three.8 billion — up from $two.seven billion at the stop of 2020, Amazon stated in the submitting.

Irvine, California-based Rivian experienced disclosed in a seperate submitting before this year that Amazon experienced invested additional than $1.three billion in the automaker and held just about a hundred and fifty million shares of chosen stock. However, Amazon’s voting electrical power as a proportion was redacted.